OIL, We should see CL retrace back under $50 and bounce off the lower TL headed back up to about $60/CL. Once the retrace bottoms I'll be able to present more accurate price targets for the top of the correction. If we don't finish out this triangle and we just continue higher from here I still think we'll $60 /CL +/- 10-15% but this path would make things much more difficult to predict movement after the top of the correction. The important thing right now is to see if oil fills out the triangle of not.
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