After moving briefly above US$38.00, crude oil price (WTI) has started to move lower again. Has the mini wave 4 rebound ended ?
My guess is 'Not Yet', because in the monthly chart, the March candlestick must remained 'green' until end of the month to complete the mini wave 4.
Looking at the daily chart, most likely, the current pullback is the the wave b of 4. The next surge may be able to touch US$40.00 to end the mini wave 4.
The mini wave 5 is likely to go lower than US$26.00 but is unlikely to go below US$20.00 to complete the wave (iii).
The next wave (iv) rebound is expected to last about 12 months until first half of 2017 and may reach US$60.00 as shown in the monthly chart.
After that I expect the assets bubble to burst and crude oil to plunge from US$60.00 to well below US$20.00 to complete the big A-B-C that has its beginning in July 2008.
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