Weekly close below the cloud shows bearishness though the lagging line is yet to break below the cloud support. Sell on rallies looks like the theme as long as 17900 is not taken out on a weekly closing basis.
Elliot wave followers, pitchfork followers and all traders please give views -- Your feedback will help me a lot in learning --
The schiff fork lower median line support is around $38 from which zone crude did see some buying support.
Last fall looks an impulse and hence marked C wave, which could be the end of higher degree Wave 2. Divergence in RSI. Closing...