Darenth

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.
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CAD formed the same ending diagonal like structure.
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Darenth PuffingFX
Yep, it looks like, but it is not strictly ED, because W1 and W4 do not touch.
snapshot
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Agreed, not ED.
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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 !
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ur target will be around 30 before longing?
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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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