olajide11
Short

BEARISH CONTINUATION

NYMEX:CL1!   Light Crude Oil Futures
1331 1 10
CL1!             (future) Crude oil             . pullback at 41.77 for wave (c) of major wave (IV). Also price develop a pin bar at 62.03 of 161.8% Fibonacci extension of wave (a) to wave (b). Also
however impulse waves of wave (V) is expected to establish to 161.8 Fibonacci extension level of (IV) from 42.10 to 62.38.

CL1!             is positively correlated with Heating Oil             , Gasoline, and other Oil             ETF's.
I completely agree, we are still sitting on the upper trendline and I do believe we will see sub 30 prices. Fading the long masses... Most charts are long but we are still in a downtrend until proven otherwise.
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