It looks like someone linked you here to our printer friendly page. Please make sure you go Back to Safehaven.com for more great articles just like this one!
US OIL Elliott Wave Technical Analysis
Summary: Use the small best fit channel on the daily Elliott wave count. If price breaks below the lower edge, then expect Oil has changed trend. The target would be at least a new low below 47.06; it should be comfortably below that point. Expect price may continue higher while it remains within the channel.