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Crude oil's explosive rally recently has been a thorn in my side (although the NASDAQ's weakness has helped balance it out). I wanted to take a look at recently counter-trend rallies in oil and see if there might be any insights to be drawn.
It seems to me, looking at recent history, that these wrong-headed rallies last for thirteen days before reversing. Now I realize that a sample set of two isn't exactly mind-blowing. Thus, if this pattern holds, oil has the rest of this week to keep pushing higher before it finally rolls over yet again.
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