Crude Oil - 53.0/52.0 Region Exepcted! (Elliott Wave)
Gregor Horvat of Elliott Wave Service - - Fri Aug 23, 8:10AM CDT

Hello fellow traders,

Crude oil made a sharp, intra-day drop, down from the 56.60 area which can now be part of a higher degree wave C of a bigger zig-zag correction. Wave C is an impulse so five legs to the downside are expected, before support, and a turn higher may be seen. Possible support is around 53.0/52.0 region.

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Crude oil, 1h

oil, 1h