Crude oil has been forming a potential bearish 5-wave continuation pattern. Over the past three weeks, the market has struggled to recover from the price breakdown between July 26, 2011 through August 9, 2011. The price action suggests the market is losing momentum and poised for another decline. I will have updated information and possible recommendation in the latest issue of the TMV Swing Trade Report.
October Crude oil - click to enlarge
