UPDATE: Short? Watch out! Next week is the key!

NYMEX:CL1!   Light Crude Oil Futures
741 8 16
4 can be some kind of 2 (running correction)...but I don't think EW will work on oil.
CAD formed the same ending diagonal like structure.
Darenth PuffingFX
Yep, it looks like, but it is not strictly ED, because W1 and W4 do not touch.
Agreed, not ED.
In Elliott Wave theory, wave 2 cannot never be a triangle ! I would therefore suggest that you might consider labeling wave 2 circle at your current (c) wave and then you have a beautiful wave 3 circle which is probably ending (or has ended) soon. Just my thoughts !
ur target will be around 30 before longing?
Respect your views but I guess wave 2 can never be a triangle therefore the labeling seems incorrect although it can be labelled as an ABC correction instead of 1-2-3
Nice analysis by the way :)
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