Crude Oil lost more than 30% of it's value recently and the absence of a rebound in the last three weeks does not bold well for the commodity. But Wave 4 correction is complex so don't get caught with false signal. Instead, waiting for 53.50$ to go short. Don't forget, Short on green day only. The theme of a deeper correction still very alive for the stock market (SP500 target at 2200 pts). Only bond, bond proxy (XLU, XLP) shoud be bought, as well as gold and US dollars.
Chart PatternsTrend AnalysisWave Analysis

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