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Crude oil is a fabulous instrument to trade for a host of reasons. Firstly, it moves swiftly, and as a percentage of the underlying price per barrel, it moves with great amplitude. Over time, it adheres nicely to Elliott Wave counts and Fibonacci extensions and retracements. Normally, the retracements are deep, which allows investors to enter long or short with very tight stops against the prior high or low. However, since the drone attacks affecting the Saudi oil supply and output, it has become subject to gap risks that can swiftly drive prices up both