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Elliott Wave Forecast For Crude Oil

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

Crude Oil is moving higher after small corrective wave (iv) pull-back at the start of the week which was part of a black wave 3. Price is now in wave (v), final leg within impulsive structure so be aware of a corrective retracement into wave 4 in the next few days. Fibonacci resistance (261.8% extension of wave 2) for wave 3 comes in at 108.00.

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