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Thursday, January 2, 2014

Crude Oil - Wave 4 is in place and more downside is expected

Crude Oil:

My expectation of a wave 4 top at 100.76 has worked perfectly.

Short term I'm looking for a minor reaction higher towards 99.38, which should be followed by a new decline towards 97.81 from where a new correction towards 99.38 is in the Cards. However a powerful decline below 97.81 will call for a continuation lower towards 95.21.

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