Crude oil has made quite sharp leg down yesterday to around 45.50 area, but despite strong decline we can count five waves down from 48.45 so bottom can be coming soon. However, it's always good to wait on confirmed low in place, which in our case means we need to see rally back to 46.42. In that case we would look for a resumption of a bullish trend.
Crude Oil, 1H
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