UPDATE: Oops, I made a mistake
Updated
I would like to apologize for my previous analysis on oil. Whilst the idea was correct, I falsly planted the fib retracement a nd got wrong levels. Apparantly, the new pivot point is at $46.1. Thus I changed my target to that. Other than the wrong levels, you can read "Oil hates uncertainty" for more information on the trade.
Note
Also, this new level also explains why oil moves so rapidly to the downside.Note
The momentum today is beyond any expectation, $47.25 possible.
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