Crude - bottomed into the green target box

As expected, crude has completed the wave ( a ) of ( v ) down precisely into the green box!

In the previous update I wrote:

“A the moment I see two high probability bottoming zone for this move down: 43.40 – 43.00 and 42-41.80.”

Crude has bottomed at 42.36 ( please check the second chart below).

Crude - 240 min chart updated on 24 December 2018

My expectations have not changed. I stil think the bounce we see now is a start of corrective wave ( b ) of ( v ). As long as this bounce stays under a meaningful resistance of 53.60 I would expect another final move to a new low in wave ( c ) of ( v ).

Crude - 240 min chart updated on 26 December 2018