Elliott Wave Analysis - Crude Oil In a S/H/S Bottom
Crude oil is currently in a S/H/S bottom, that will be triggered upon a break above the neckline resistance at 79.29 and a break above here will call for a rally towards the 95.03 high. This high should only prove to be a temporary stop on the way higher towards the 129.30 high.
Support is currently seen at 75.52 which is expected to act as a solid floor for the break above neckline resistance.
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