CRUDE-OIL-WTI – Bullish Primary C- Long Term
Updated
CRUDE-OIL-WTI has been trading since Feb 2016 in a Bullish ABC Corrective Structure which is labeled on the chart as Primary ABC (green).
Primary A (green) unfolded as a Zig-Zag, with 5 Waves Sequence in its Intermediates (A) & (C) (light blue).
Primary B (green) completed its Corrective Structure as a Running Flat.
Primary C (green) started its Bullish Cycle with 5 Waves Sequence in Intermediate (A) (light blue), which would mean that the up-coming Bullish Intermediate (C) would unfold with 5 Waves Sequence as well.
Within Primary C (green), Corrective Intermediate (B) (light blue) unfolded as a Double Flat in the Minor WXY (red) Complex Corrective Structure.
Minor Y (red) bounced off the 100% Fibonacci Extensions of Minors W & X, which are also Levels with Points of Interest for Buyers, also 78.6% Fibonacci Retracement of Intermediate (A) (light blue).
We believe that the Corrective Cycle has finalized and that CRUDE-OIL-WTI is about to begin Intermediate (C) (light blue) with a Bullish Rally.
CRUDE-OIL-WTI - Long-Term - BUY Position:
Entry Level - 46.00
SL - 42.00
TP - 62.00
Primary A (green) unfolded as a Zig-Zag, with 5 Waves Sequence in its Intermediates (A) & (C) (light blue).
Primary B (green) completed its Corrective Structure as a Running Flat.
Primary C (green) started its Bullish Cycle with 5 Waves Sequence in Intermediate (A) (light blue), which would mean that the up-coming Bullish Intermediate (C) would unfold with 5 Waves Sequence as well.
Within Primary C (green), Corrective Intermediate (B) (light blue) unfolded as a Double Flat in the Minor WXY (red) Complex Corrective Structure.
Minor Y (red) bounced off the 100% Fibonacci Extensions of Minors W & X, which are also Levels with Points of Interest for Buyers, also 78.6% Fibonacci Retracement of Intermediate (A) (light blue).
We believe that the Corrective Cycle has finalized and that CRUDE-OIL-WTI is about to begin Intermediate (C) (light blue) with a Bullish Rally.
CRUDE-OIL-WTI - Long-Term - BUY Position:
Entry Level - 46.00
SL - 42.00
TP - 62.00
Trade active
Note
Note
Patience is indeed a virtue.Update:
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.