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Crude oil is behaving just as expected. The final part of the correction from 95.03 is now in motion as wave C should continue lower towards support in the 75.63 - 79.34 area. Once this area has been tested, we will be looking for signs that the correction in wave 2 has been completed and wave 3 higher towards 129.30 is ready to take over.
In the short term, we see resistance near 85.19 for a continuation lower towards 79.34.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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