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Good day traders!

Crude oil came sharply down last week which now looks like a deep completed fourth wave pullback, after a nice turn up from 55 support area. Notice that oil made an overlap with 56.60 which is important for a bullish case as it invalidated any bearish interpretations. As such, we think the market is back on the rise, headed above 58 and possibly 59 region this week for wave 5 of 3).

For more detailed explanation on Crude oil and other FX markets and BTCUSD, check the attached video.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.