DineshKrishna
Short

Crude oil - Is the bottom visible yet...?

NYMEX:CLJ2016   LIGHT CRUDE OIL FUTURES
snapshot
Resuming from previous Crude oil             Post in the blog, check it here...

Obviously yes the bottom is in the visible limits
We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle ( Elliott wave Descending triangle) and within which the waves ABC have been completed and the remaining two legs D & E are about to be completed and as in a descending triangle the characteristics of the same is to test the support multiple times and which is what the D wave is going to do exactly and after that the E ( FINAL ) wave as dictated by the principle will be a multiple of FIBO numbers, with respect to Previous C wave rally and most possibly the .786 will be the target for the above stated E wave.

View the video as it also explains below one degree from daily charts to H4 charts.

visit the thread with video here,
http://www.mytradingcourses.com/#!Crude-oil-Is-the-downturn-Over-Yet/m8kvq/56d305930cf2154b8026f910

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