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.
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Also, this new level also explains why oil moves so rapidly to the downside.
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The momentum today is beyond any expectation, $47.25 possible.