jan 8 oil update!

We now a very large key daily reversal lower shaping up, which is signaling that all of wave *c* of (b) is complete at the 65.65 high.

 

A drop in wave *d* is now underway, and it should take a month or so to unfold. The end of wave *d* should be in around our lower red trendline that marks the boundaries of our wave (b) bearish triangle.  

This level should be around the $52/54 level.

We are adding to our short positions now!!

Thanks!

Captain & Crew