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Crude OIL : More Weakness Expected In Days Ahead

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

WTI crude oil has made a nice turn down yesterday, it fell beneath 47.70 which is strong indication that market will continue lower as top of a wave (NYSE:C) of 4 can be in place. Also notice that decline from 50.90 is sharp and aggressive so we expect more weakness in days ahead, especially after wave two bounce.

Crude OIL, 4h

Crude Oil, 4h

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