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Thursday, July 7, 2011

Crude Oil - Low risk oppotunity

We are currently trading at 97.40, which should provide a low risk selling oppotunity. One could have a close stop just above 97.76 or a more save stop just above 98.49. We should not at any point trade above 98.49 if my count is correct as, that would leave us with an overlap between red wave i and red wave iv, which is not allowed under the Elliott Wave Principle.

These low risk oppotunities is the ones we really are looking for. The potential gain is quite big, while the loss is very limited.

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