🟡 WTI Update
Ok, the price formed a diagonal which I envisaged in my previous post as a terminal wave but then made a new low.
Seems like we will have another leg up and lower low before the trend changes. This way the price forms ABC flat structure connecting previous diagonal wave a that I took for the terminal wave in my previous update and new additional wave. The rule of alteration says that this new wave will be either expanding diagonal (less likely) or impulse wave.
I am keeping the chart in the yellow confidence bucket for now. I will be able to change it to green when the trend reverses and I see waves 1 and 2 of the new trend.
Seems like we will have another leg up and lower low before the trend changes. This way the price forms ABC flat structure connecting previous diagonal wave a that I took for the terminal wave in my previous update and new additional wave. The rule of alteration says that this new wave will be either expanding diagonal (less likely) or impulse wave.
I am keeping the chart in the yellow confidence bucket for now. I will be able to change it to green when the trend reverses and I see waves 1 and 2 of the new trend.
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⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
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