(Please click on the chart to see it better)
Crude Oil
The wave iv correction I have been looking for, has evolved nicely and we have hit the first resistance levels at 94.82. However, I still think we should be looking for one last rally higher towards 95.13 and possibly even higher towards 95.47 before wave iv is over and wave v lower towards 88.54 takes over.
Short term expect support at 93.92 will protect the downside for the last rally higher towards 95.13 and maybe 95.47 before lower again.
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