Crude Oil: Still Slippery

I posted last week with crude trading around 46 that we seemed destine to take out the lows established on April 5th of this year. This optioned stemmed from the believe that were in the midst of an unfolding C wave decline to finish a complex W-X-Y correction. A series of impulsive moves seems to be in place leading me to think another and final move lower is in the cards. The projection level established comes in around 41.50 to 41.10. At this point I’d be on the lookout for clues pointing to an impulsive rally. Please follow along as I share my insights regarding this potential setup.