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Sell Crude

Sell Crude

Ape

In my elliot wave analysis of crude oil0.00%% , I believe there is a great risk reward trade here to the downs side. After making 5 waves down, I believe oil may have just completed an expanded flat for the 2nd wave. This sets up a trade that should be strong in a third wave down. The initial target is a fibonacci ratio of 1.618 of wave I. A more accurate target can be calculated as this move develops.