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Crude 98.64 Remains Key on Swing Basis

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“Above 98.64 would suggest that a near term low is in at this confluence. Until then, respect downside potential.” Crude has fallen apart. Remember, COT has indicated an extremely crowded trade forever. That trade is finally getting washed out. A break of the January low exposes 86.64.

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