Crude Oil Has Entered Corrective Phase. Targets Below $50!

4 apr 2021

Oil rallied from its coronavirus low and topped at $68.02 per barrel.

• The five-wave decline from 68.02 high is the first sign of bearish reversal.
  
• Any further rally in Oil must stay below 68.02 for the reversal to remain intact.
  
• The breach of 58.91 key level will confirm the sell-off has resumed.
  
• Targets below $52 are plausible in the weeks ahead.
  

What's your view on Oil? Let me know in the comment.
Thanks,
Veejahbee.