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Oil WTI CFD Technical Analysis Report

Oil WTI CFD Technical Analysis Report: 98.65
As mentioned yesterday Oil is moving with stock which is all being move by headlines out of the Euro meeting.  The move down to be bearish would still need to retest 100 and fail that the bottom line, the Elliott wave count can have a top in place, a truncated fifth wave as the Elliott charts were expecting a higher price to 103+. Any way while the Euro meeting are in swing over the next few days let’s just wait for the retest and how the supports play out the 98 is the first MinorLevel (mTL8) followed by the sublevel 9650 then 95 the MinorLevel (mTL5) The sharp move down can be treated as wave iii with a wave iv off the 98 and wave v into the 97 range

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