$WTI Daily Chart.More downside, Eyes 36.00 | #crude #oil #USOil
Updated
Traders,
USOIL corrective structure A-B-C (circle) since 09.06.2016 is close to ending, after a last drop, when C-wave (circle) completes as an expanding ending diagonal.
A-B-C (circle) possible expanding flat corrective structure pattern.
1- Wave-A (circle) developed into a ZigZag pattern, internal 5-3-5 structure [ a. - b. - c. ] ending at 39.23
2 - Wave-B (circle) developed into a ZigZag pattern, internal 5-3-5 structure [ a. - b. (expanding flat) - c. ] ending at 55.21, right on 23.6% fib extension of wave-A(circle)
3 - Wave-C (circle) possible expanding ending diagonal, internal 3-3-3-3-3 structure, targeting 36.00(+/-), where 23.6% fib extension of wave-A(circle) is, 61.8% fib retracement of
1-5(circle) impulsive motive and also it's where (i) to (iii) equals (iv) to (v).
Another close target could be where 4-wave's (circle) low is (35.27).
After completing this downside, watch for the next uptrend start, and buy the next (C) wave.
Trade with discipline.
Best
USOIL corrective structure A-B-C (circle) since 09.06.2016 is close to ending, after a last drop, when C-wave (circle) completes as an expanding ending diagonal.
A-B-C (circle) possible expanding flat corrective structure pattern.
1- Wave-A (circle) developed into a ZigZag pattern, internal 5-3-5 structure [ a. - b. - c. ] ending at 39.23
2 - Wave-B (circle) developed into a ZigZag pattern, internal 5-3-5 structure [ a. - b. (expanding flat) - c. ] ending at 55.21, right on 23.6% fib extension of wave-A(circle)
3 - Wave-C (circle) possible expanding ending diagonal, internal 3-3-3-3-3 structure, targeting 36.00(+/-), where 23.6% fib extension of wave-A(circle) is, 61.8% fib retracement of
1-5(circle) impulsive motive and also it's where (i) to (iii) equals (iv) to (v).
Another close target could be where 4-wave's (circle) low is (35.27).
After completing this downside, watch for the next uptrend start, and buy the next (C) wave.
Trade with discipline.
Best
Note
First target was hit, have a close look at price action maybe even for 50.50(+/-). If price reverse from price now watch for sellPattern is still valid.
Note
Price reached 50.40 and pulled back close to 50.50(+/-)Possible one more wave up to complete the 5-wave sequence and the ZigZag.
Overall, watch for reversal
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