of WTI future contracts gives us the following results:
Current contract. 4 hours
• Oil is at least in phase of correction. All Up were broken.
• pattern is in work. It was activated by breaking neckline. Potential target zone of the pattern is 35-36. At the same time, breaking up 40.5 cancels the pattern.
1. Look for sell opportunities after upward correction near 39-40 zone.
Clued contract. Daily
• At least correction has started. First downward impulse wave is in place (almost completed).
• IMPORTANT. In spite the fact, that main downtrend line was broken, this wave may be the first wave of main down trend continuation! Keep it in mind.
1. Short-term. Buying near 32.8% FIBO and try to take correction with the target in (39-40) zone.
2. Mid-term. Sell on correction to small downward impulse. Target is green (30-32), maybe even lower.