Possible wave pattern

NYMEX:CL1!   Light Crude Oil Futures
Possible long term wave pattern. If valid we seem to be in a ABC correction, and should expect a move up in price to point C. The first target zone would be last impulse wave 4's zone which goes up to around 62.5

Idea and wave count gains further support. Ready for a breakout of fib 0.618 on daily chart. Price might need to consolidate some first.

Lets see if fib 0.382 will hold as support for the bullish (cyan) trendline tomorrow.

And we just broke out, and have fib 0.618 of last primiarly wave B below acting as strong support.
Like your idea but I think it will go a little bit higher, 65 is my magic number. Afterwards a big correction? to 25 or even lower again
DanielKjoelstad showerreport
Sorry, I didn't see your reply before today. But yes it's not easy to say exactly where point C will end if so. There is a lot of resistance thought around 58-62 as you can see on the chart below, so it will require a lot of power to get above it.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out