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Trader1N
Dec 11, 2016 4:24 PM

Ascending triangle in wave B on weekly chart nearing break out 

Crude Oil FuturesNYMEX

Description

OPEC reached an agreement in the weekend, which should imply a price move upwards. Still though my current wave count suggest another move downwards to point E of the ascending triangle in the corrective wave B of one larger degree. Further we should get a bigger corrective wave C up to around 60, which is the end of wave 4 where most corrections tend to end.

Comments are welcome:)
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