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10 Jul 2020 ‚óŹ 08:49 AM

Crude took its time, momentum has remained in sell mode on daily charts as prices continue to form an ending diagonal at the end of wave 1. Now we broke the lower line of the wedge last night so the move lower in wave 2 should have started and oil can be a lead indicator of market sentiment. So below the 20dma at 39.12 we may go to the 40dema at 36.34 to start with.

crude 100720

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