Oil long swing play

In my previous post, i was expecting oil to maybe do a final push higher before breaking down, we never got it.  As im posting this, we're around 94.24 and im thinking the worst of the move lower is done. Hoping for a quick drop down to 93.1 - 93.5 to complete this wave, and start a new wave higher that could in my opinion see new highs on oil.

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updating this play today Dec 21.....      Oil had a good rebound from around 92.6, and has hit a high of 99.20 approximately.  Im thinking we reverse from 99.80 down to 95 before a final wave higher ...I believe the trend on oil is up and chances are we see new highs in 2012.. for now, good idea to exit longs..


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Dec 23, and Oil has managed to get to 100.30 approx.. I am staying short, and fairly confident we will see a strong downmove today... Stop loss at 100.70, target around 95-96, more later.