$CL_F (US Oil) 10.31.2013

Oil has dropped to new lows below 95.93 further confirming the idea that 98.83 was the end of wave B. Decline from 98.83 looks like a 5 wave with a wave ( iv ) triangle. Expect a pull back in wave ( b ) toward 97.50 from where Oil should turn lower again. Hourly cycles are negative so we don’t like buying it into proposed wave ( b )

CL #F,60 - AdvCh

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