Corrective Wave Decline: October Crude Oil

October Crude Oil

      It appears that we have established a series of impulsive advancements stemming from the lows at roughly 42.50. Currently an a-b-c corrective decline seems to be in motion. A slip to 48.50-48.30 should set projected (c) wave extreme. If this interpretation is accurate the (c) wave low should not overlap the wave (i) price high at 47.95. Holding above here should set base for another subset impulsive advance which currently projects to +/- 52.40.