has been in consolidation for four weeks and comes to bottom of the rising channel
. This consolidation is a flat or triangle correction which acts as wave four likely. The wave 2 is clearly a sharp correction. Two corrections fit the alternative rule very well. Oil
might start the wave 5 up if it breaks out of the consolidation area.
Go long if it breaks out of the bearish trend line with SL at around 48.5
No confirmation, no trading! Please wait for the breakthrough to go long.
Good luck for everyone!