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Crude Oil Continues to Weaken Towards Important and Potentially Very Consequential Support


The correction of the August upleg continues off of the Aug 19 high at $48.75, and has sliced beneath key 50% retracement support at $44.00-$43.80 in route to a possible challenge of the 62% retrace level at $42.80-- into the area of the dominant 7-month support line, now at $41.25, which must contain any additional acute weakness to avert inflicting some potentially serious damage to the intermediate-term recovery process in Crude Oil.

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