CL - Crude to fall below 36?

NYMEX:CL1!   Light Crude Oil Futures
- price is in a huge sideways range (see grey A/R channel)
- resistance at the A/R's high and the confluence point from the two forks

Sine Waves:
- the center of the pink SW             is already broken
- the yellow one is not yet broken. The weakening of crude could make it happen.

- price could not reach the centerline after the first resistance. This indicates that price "should" go higher then from where it came...but it did not, not yet. A further fall would indicate that pressure from the upside is increasing and price potentially will move much lower!

If the blue ray (most right) is broken, I am willing to hunt for a long term short down to 36 or lower.

Comment: Halted to the tick at the slanted support line.
Now I'm really courious if it will would probably play out very fast to the south. But that's probably just hopium ;-)

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So far my wishful thinking is gone...along with my spread §8-)

Next station is the test/retest of the U-MLH. If it breaks back into the Fork, I would hunt shorts.

Thanks thulasi for you comments.

I have no clue how these waves work.
But it would be great if you where right, because of my short Spread and cheaper fuel for my Car ;-)

Have a happy day
Yes absolutely 3rd wave of the 5th wave has started and will take the price down by 17 dollar min(from 49-17=32,,,or 20 dollar then 29 dollar or 2.618 to 24 dollar ) crude is heading to 10$ a barrel first 24---32 dollar then a wave 4 retrival then 5 th and final wave of 5th wave to 10$ a barrel neither saudis nor Mr Trump can save oil it just how wave principle works
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