Potential Butterfly pattern detected.
If this is correct, then oil might forming second leg from the high of 49.08, possible retracement fibo levels will be 38.2% or 88.6% of AB. In this case, it seems like oil will retrace to level 88.6% which might bring oil to $40.30++
A B = 78.6% retracement of XA
B C might be formed if price is heading to 88.6% of AB,...
short crude oil for short term retracement (wave ABC), potential retracement to 61.8% fibo level or more
p:s/ first time posting idea, do comment if u have different view ^^ thks
