Possible Elliott wave count, oil down to 45, then up.
If its a zig zag, wave c should touch the red trend channel in a few hours or a day. The wave c almost fits into a trend channel. And if the rally goes above the 48,55 there´s a good chance that the trend keeps up a few more bucks.
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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.