Crude oil turned nicely down last week from our resistance area, so it appears that top is in place if we consider a broken channel support line. In fact, current leg down is strong, thus an impulse wave A) that will likely cause more weakness ahead, but after a bounce up into red wave B). Ideally, energy is in a big wave four pullback headed down to 44-45, based on higher time frame.
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Crude OIL, 4H
