Crude currently seems to be in the ending stages of the first Impulse down from 72.87 level.
This Impulse down was sharp as is expected after an is formed, from what is visible now we can complete this leg down near 64 or 63.30 level and from there form atleast a 3 legged correction to the upside for Wave 2 or Wave B which can take Crude possibly till 68.30 levels (more clear targets will be visible once the bottom is formed).
The important thing here is to wait for the pullback for adding more shorts or initiating new shorts to the downside which can take Crude till 59.40 to 56 levels.
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