I think it is better to look at crude on a weekly chart. It gives a complete different view and feel than daily.
My read, next stop 60. Then bounce, then probably on down to 50. It is pounding down through support, slowly. At some point then a big dump into the bottom. This has been very sneaky, but what is on the weekly is very telling, trust the chart.
I added Drip first thing this morning, correction over. Up a buck plus on my adds. Next major stop probably 30 plus.
This is what makes a market, different views, I think the general markets are ready to crap. If you just look at LT chart comparisons, never a big crap in energy w/o some sort of dump in general markets. Energy is dumping, look at Devon, Cop, Xom, Cvx. Devon ahead of the rest called here. Natural gas way ahead of the rest.
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Crude in early stages of iii of 3 down. This 3 should be the long wave, currently speculating it will run into early July, maybe down to 50.
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