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.
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E-mini Light Crude continues downward towards 48.425. 46.675 might be a challenge to hit.
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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.
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Light crude continues to drop after a pause. Next downside target 46.875.