Also note the red zone that I have drawn represents the most probable for the fall and the market has taken support just above it.
It is possible that the 5 th Wave of this Wave C correction might take it a little lower, in that case the boundary of this Red box should offer the support.
Important 48.70 to 47. (Red box)
In all likely cases Crude Oil is a buy on dips market.
I will update further as the market progresses.