Crude Oil: Corrective Price Action Still In Progress
Sharp decline on crude oil suggests that market can see more weakness now in wave C of B/2, especially after recently broken channel line connected from 39.50. That said, we are looking at a more complex corrective decline from 2016 highs, a contra-trend movement that will be expected to send this market higher again once the flat correction is finished.
Crude Oil, Daily
Basic Flat Correction:
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