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Crude Oil-Pullbacks Are Healthy


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Jan 12 2018

We have been very bullish crude oil lately with some sharp and accelerating move to the upside which is normal within impulsive rise. If you are our follower than you will know that we called 63.00 already a few months back, but now when more and more investors are becoming bullish and with DSI rising above 90 it may be an alert of a new turn. Technically speaking there is definitely time for a pullback per Elliott Wave model that shows five subwaves within an extended wave three that can slow down at EW channel and at Fib. resistance. Pullbacks are healthy and we think that new set-back of a higher degree wave four can be coming; if not from here than maybe from around 67.00, and it can be similar to the one we have seen back in August of 2017

Interested in more of our analysis? Check our "Before and After" charts of 2017 

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