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Darenth
Dec 12, 2015 7:19 AM

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

Crude Oil FuturesNYMEX

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USOIL

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Comments
IndonesiaBankTrader
IvanLabrie
4 can be some kind of 2 (running correction)...but I don't think EW will work on oil.
PuffingFX
CAD formed the same ending diagonal like structure.
Darenth
Yep, it looks like, but it is not strictly ED, because W1 and W4 do not touch.
IvanLabrie
Agreed, not ED.
Bleck
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 !
teddyrucks
ur target will be around 30 before longing?
KayJay
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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