$CL_F (US Oil) 10.11.2013

Oil has broken below 101.06 low suggesting rally to 103.59 was wave (( b )) and we should be completing 5th swing soon after which Oil should make a pull back in wave ( b ) and trade lower 1 more time to complete 7 swings down from 104.37 peak. Hourly cycles are negative so we don’t like buying Oil into proposed wave ( b ) pull back.

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