Crude Oil Declining Impulsively; 41-42 Zone In View
Gregor Horvat | Nov 14, 2016 04:08AM ET
Crude oil is turning significantly lower this month, now trading well beneath trendline support connected from 39.50 August low (look at daily chart), which opens door for more weakness ahead as price action from the last few days is looking impulsive on the 4h chart.
Recently we have seen small turn up, which was just another correction; ideally wave four within extended wave three that already put wave 5 in play for 41-42 zone.
Crude Oil, 4H
Crude Oil, Daily
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