OIL is falling for the last few days together with stocks on fears of a slowdown in the economy and Brexit vote. Also inventories are large which resulted in lower prices. We expect a pullback on this commodity to take place soon but only in a corrective manner. Latest move looks like a flat and push up is possible after we reached the support for the blue wave b at 47.00 zone. Resistance for the C wave up is seen at 48.60-49 levels.
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Crude OIL, 1H