CRUDE OIL PROBABLY IN WAVE ' C ' - SHORTCrude Oil FuturesNYMEX_DL:CL1!KayJayThis is in continuation to our ongoing tracking of CRUDE OIL, our preferred wave count suggests that we are in a wave C of an ABC corrective wave. There are several possibilities how corrections can unfold, we have mentioned the 2 most probable scenarios that can unfold in our opinion. GREEN MINOR ABC: If the minor wave unfolds as the green ABC then price will fall towards 40-38 level and even further towards 29 level without bouncing back much. Break below 55.10 - 55 will bring confidence to this scenario BLACK MINOR ABC: If the minor wave unfolds as the black ABC then price will go beyond 78.40 and will reverse back down targeting 46 - 48 level. Break above 70.50 - 70.60 will bring confidence to this scenario Let see how this plays, Good Luck ! Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.