Crude OIL Looking Lower

Gregor Horvat Wavetraders

Crude oil is making a new drop lower, which could be an indication that red wave 4) correction is completed and that red wave 5) is in motion. If that is the case, then we expect a five wave development to take place within the final wave, and ideally look for support and limited downside around the 40 mark.

Crude oil, 1h

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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