FX:USOIL   Crude Oil (WTI)
453 1 5
My wave analysis for USOIL            
Very good wave numbering. I agree also that currently we are in a C.5.The declining major support line is now being tested (there is a tremendous pressure applied by the sellers, but the buyers are valiantly still holding on; this is a monumental price "battle"). Provided the area around 35 is verified as a significant (and perhaps ultimate) support, then a serious reaction will take place. To keep all options open, if 35 fails then 26 (equal negative wave A & C yields) and 20 (declining pitchfork lower line based on B-wave length) are the next low oil price candidates.
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