Oil Monthly. Long-Term look.

NYMEX:CL1!   Light Crude Oil Futures
232 3 3
Just doesn't look good however you cut it.
I dont see it going to 90 for a retest. I put this move down as a 3rd wave. In 3rd waves there are retracements but they are generally shallow and fleeting. Allow for the big boys to get a better price and boom more downside
are you expecting it to back test the broken uptrend line ?
I agree with this idea. Oil is going much lower. Deflation Deflation Deflation. Low demand. Excess supply. Energy alternatives all point to one direction - down
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