13 days ago I suggested crude oil was likely ready for a short term correction with an a-b-c (up then down) correction. We have just touched the .618 correction. Often after such a long term drop as we have seen in oil corrections are quite deep so I would not be surprised there is more correction still to come say to .78? or even to back to the low (37.73) to form a "double bottom". I don't know. Will be watching or some divergences in the RSI or break out from the channel. Hope this is helpful. Take care. Goodguy.
