WTI Crude Oil and complex Correction

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 WTI Crude Oil Weekly Chart


WTI Crude Oil is moving in complex correction (W-X-Y) where prices are moving in wave Y at present. In wave Y, prices completed wave a and wave b and currently has started wave c on the lower side which can tumble till 62.000 levels 38.2% retracement of wave W added to wave X. 

The bias is negative for the WTI Crude Oil as it can slump till 62.00 levels over short to medium term with stoploss placed at 75.78 levels. CMP 70.11

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