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E-Mini Light Crude

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E-mini Crude Oil Futures (Jun 2017) (NYMEX_MINI:QMM2017)  
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NYMEX_MINI:QMM2017   E-mini Crude Oil Futures (Jun 2017)
lightcrudeoil Gartley Cypher Bearish Patterns
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lightcrudeoil gartleypattern cypherpattern bearish
June E-mini Light Crude is forming a bearish pattern of either a Gartley or Cypher. Next downside target at 48.425 and Cypher at 46.675. Potential rebound to 51, then possibly 53, with an outside chance at 54.475 before becoming bearish again.
Comment:
E-mini Light Crude continues downward towards 48.425. 46.675 might be a challenge to hit.
Comment:
Light Crude ran out of steam and made a double tweezers bottom suggesting more upside. How much upside is the question. Caution should be warranted here as we may still see another push down before going up.
Comment:
Light crude continues to drop after a pause. Next downside target 46.875.
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