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Thursday, March 28, 2013

Is Crude Oil about to stage a major rally?

Crude Oil

Crude oil has been a major bore for way to long, but it seems that we might finally get some action here. A clear break above the triangle resistance-line should stage a major rally to at least the 123 - 124 area. However if this is a triangle, then we also know that this is the last rally before a a new major decline sets in.

Sorry for not having any Elliott Wave Count on this chart, but that should not be important as the chart speak its own clear language.

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