From an Elliott Wave perspective, we see crude in the first leg down, of a three leg drop, so there can be some choppy ride this week especially if we see wave B rally filling Sunday gap and then another sell-off, with support near 61.8%.
All eyes will be on the FED this week…dollar can get higher again due to inflation concerns, if the situation in the Middle East doesn’t improve. Ideally, we get new leg up on DXY when oil correction is completed, with this projected a-b-c drop..
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