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Crude Oil – 15m Chart – That Escalated Quickly…



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My Medium Term View: 

Why I still favor Lower Lows for Crude Oil

1st Target $44-$45 and 2nd Target $41

 

 

 

A Short Term View

June 13

CRUDE OIL 15m CHART


Crude Oil sold off during the day, found support @ red trendline, bounced back up and managed to get back in the green trend channel.

For the short term, keep an eye on the $46.40 to the upside and the $46.20 to the downside.





 Update

20:17

No decision yet…

Inverted hammer after two down candles is often a bullish reversal. 46.40 retest?

 Update

20:26

Still not able to close > $46.40…often after a failed attempt, the energy moves to the other side…




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Update

21:40

Just not today…Oil broke the 46.40 to the upside, stuck at 46.50 resistance, green trendline



 

Update

22:30

Okay, that escalated quickly.


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Thank God we have dealCancellation 😉



My Medium Term View: 

Why I still favor Lower Lows for Crude Oil



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