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.
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