Crude

Oil prices pulled back to the 40 day EMA near 41.27 and this is the important support to decide where we go from here. Crude has never seen the meaningful wave to correction since its April bottom so every time we do see a pullback the odds remain open for a more prolonged consolidation or meaningful retracement of the 1st wave. The next window is at 38.72 and even a 23.6% retracement would bring us back to 35.