On the 4h chart of crude oil price turned down sharply from 47.77 levels after only three waves of recovery from 42.97. We know that three wave structures are either completed corrections or part of a complex pattern. In our case it's a complex pattern as we see a completed wave X) in the middle of a bearish double zigzag that can be underway down to 41-42 area before new support is found again. Keep in mind that we still see turn down from August highs as corrective move that belongs to a bigger bullish cycle which will stay in view as long as 39.23 holds.
Crude Oil, 4H