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OIL Elliott Wave Analysis: Triangle Is Pointing Higher

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

OIL Elliott Wave Analysis: Triangle Is Pointing Higher

Crude oil is moving sideways for the last few days which now can be a triangle in progress placed in wave (iv). Triangle is a five wave pattern, so be aware of a break to the upside in the next few days as price already made pullback down to 96.70 yesterday that can be wave e), final leg in the pattern.

OIL 4h Elliott Wave Analysis

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Stocks: OIL