On monthly chart, the price action indicates a change in trend.
Why is it a Change in Trend:
1. Price action making lower Highs (LH) and Lower Lows (LH) on monthly chart created a downward trend channel.
2. Now the price action made a Higher Low (HL) as indicated in above chart that indicates rejection of lower prices and buyers entering market to control...
Crude oil appears weak and having completed an A on downside to 43 $ and a corrective B to the up around 48$ quite likely the C down has started which should be a five wave impulse.
A break of the current trendline support at 45 $ will confirm first the fall to 43 $ and subsequently lower levels
