7pasos

5th waves extension more probable in commodities

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
258 1 0
The 5th waves extensions are more
probable in commodities markets because
the fear of rise of costs increase
the coverage.

By the other hand the 3rd wave extensions remains the more probable scenario for the impulsive waves in the direction of the main trend (impulses of impulses) because the 3rd waves is always the stronger one (not neccesary the longest but strongest).
7pasos
3 years ago
As proof you can see here the same chart compared with the airline index see how the decline in the last one (orange) eases only when the crude drop sharply
snapshot
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