chefdrewmem

oil begins wave 5

Long
TVC:USOIL   CFDs on WTI Crude Oil
Aside from the much needed bounce sometime soon we see major support at the apex of wave 1 as well as overall bullish sentiment in the commodity that seems to have had its head chopped off in a matter of days, leaving people reading headlines like "what happened to oil?" well exactly... What happened to oil is that it made a quick retracement to reorganize a final push of its currents wave. i believe we return to the most recent highest highs of this wave but not giving much more than that. Then entering a bear market with a full retrace to the 40-35 DPB range
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