Get started
TAcharts

AB x .618 = CDs in diagonal ?

Light Crude Oil Futures (NYMEX:CL1!)  
TAcharts  
NYMEX:CL1!   Light Crude Oil Futures
Harmonic Patterns Trend Analysis Wave Analysis
3
1
harmonicpatterns trendanalysis waveanalysis
It appears CL is working on a contracting diagonal. Our recent peak
measures as an AB x .618 = CD, and basis the next leg measuring the
same, this is confluent with the falling lower TL. I would view this as
a target area for a "5th touch" within the apparent falling wedge.
Disclaimer

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.