Currently we are detecting a pattern resembling 5 wave (see chart) coinciding with resistance (see pink box). Could this be the completion of the 1st major wave down? Could this be followed by a corrective 2nd wave (may be ABC
) triggering a major 3rd wave? Who knows... However, If so, a very good short position may be ahead of us. Watch Oil
and related commodity and forex charts carefully in the coming days.