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DarthTrader1357

USOIL a classic Elliot Flat Correction?

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
DarthTrader1357  
TVC:USOIL   CFDs on WTI Crude Oil
Support and Resistance Parallel Channel Moving Averages Crude Oil WTI Oil XLE XOM CVX OXY
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supportandresistance parallelchannel movingaverage usoil oil xle xom cvx oxy
USOIL makes what looks like a classic Elliot Flat Correction. But where does it go from here? Is the correction a pause in upward prices? Or is the correction the change in direction from uptrend to downtrend?

Note that the bottom yellow dotted line is the 200day MA area. Haven't even bounced off that yet.
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