Flying squirrels are not, in fact, able to fly but rather glide from tree to tree, using their extended skin that stretches from their arms to their legs. Just like one of those flying squirrels, WTI has jumped off the retracement at $115.78, where it has finished wave b in orange, and is currently gliding downwards in the direction of the support at $80.98. After it has completed wave (A) in white in this region, WTI should temporarily gain some new momentum, spreading its parachute-like skin again for a countermovement in wave (B) in white. Then, it should continue to float into the green treetop between $70.12 and $35.77 to conclude wave (C) in white, wave c in orange and wave 2 in green.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.