Oil to move down impulsively
Been tracking this for sometime now, and it has mostly behaved as expected for a couple of months. The count in oil is hard to follow, because it does not necessarily "behave" within EWT parameters, but the pattern persists, despite irregularities. I will consider this validation or invalidation. I do not know the fundamentals that will cause such a move, but the waves have led me to this conclusion. Please, scroll back and review the count and magnitude and comment if you have a different count.
Note
Note
I have changed the count upon revelation that we had a big triangle ((iv)), and the above chart reflects that. Pattern is playing ball, but looking for more magnitude to complete Minor 4.
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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.