Crude is trading at the lows, now around $47.00 area where bears may slow down as we see an ending diagonal about we talked yesterday. In ending diagonals each leg is made by three subwaves, so new turn up can be coming soon if we consider an a-b-c decline in Red Wave v). However, break above 47.09 and more importantly, above the upper red resistance line is needed before low can be put in place. MACD also shows a divergence.
Crude oil, 1 hour