USOIL in short term 5 wave down trend

16 Haz 2016

Looks like it was just a simple ABC correction turning out to be an expanded flat. If that is the end of the correction the (X) wave in the previous chart is an impulse wave starting a new 5 wave down trend. Looks like the 3rd wave could have already finished. I expect the 5th wave to end around 45.31. Will wait to see how the 4th wave unfolds.