Crude oil is turning nicely up from 47.05 level where we see a low in place following recently completed five wave decline in wave C). Notice that market turned up very strongly last week, back above $50 per barrel with impulsive price structure which means that more upside is coming this month above 52.36 bullish level when we may start looking back to 57.00. That said, at the moment we see price undergoing an intraday drop, which could be the start of a three wave corrective move within wave 2.
Crude OIL, 4H
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