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OIL Elliott Wave Analysis: Complex Correction In Wave (Iv)

|Includes:iPath S&P Crude Oil Total Return Index ETN (OIL)

Crude oil is now turning slightly down from around 98.60 after only three waves up from 95.20 so we labelled this move as wave b) that is part of a complex correction in wave iv). We are tracking idea of a flat where we may see a re-test of 95 area before prices may turn up again for wave (v) of A.

OIL 4h Elliott Wave Analysis

Written by www.ew-forecast.com

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Stocks: OIL