Oil is in the process of completing its wave 4 correction. Elliott wave principles stipulate that a shallow wave 2 (which is what played out in oil) is typically followed by a deep wave 4. Oil should find support anywhere between 80-85 but that should provide the launching pad to wave 5 which should take oil to $200
Chart PatternsCLCrude Oil Futures WTI (CL1!)cl_fTechnical IndicatorsOilTrend AnalysisWTI

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