Gasoline Daily Chart And Potential Bull Trap Update

Since the June 2016 bottom gasoline futures also blasted off in a record run. I believe this could be a 5th wave rally, with better formed impulse wave structures than oil has with the same degree wave structure.  When the mainstream starts to get bullish then this is a sign that an impending correction is coming. Just a simple bull market correction or a downright bearish move is the big question? In any case markets can crash back down to any previous 4th wave dip,of one lesser degree which is wave 4 in Minute degree.  Even if another full leg up were to happen, this oil chart could crash 60% or more, just to get warmed up. Any big correction must not travel to new record lows, as then gasoline would have been just another bear market rally.

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