USOIL
Updated
Trying to target USOIL. Sooner or later the trade must end, trying to determine a top is tough. I see 2 scenarios. On the attached chart. EW 1-5 is clear with a target of $53.43. Also, I can see a smaller 12345 within current wave 3 (green dotted lines) which would have a top at $49.11. I'm leaning for both to be correct. a pullback shortly wiithin the red resistance zone, then a push higher to (5). That would also make a completion for the current move and AB=CD continuation to (5). Either way, OIL goes higher.
Comment
Get ready for the pullback in the resistance zone, 1/2 cycle low. Then another strong move higher.Comment
Bull Flag forming. We expected this consolidation. Hang in thereTrade active
Bull flag should be complete here and ready to start moving higher towards $54.Comment
Consolidation complete and moving above the resistance zone. Should run strong when the dollar drops. Trade still on
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