underwent a complex correction. The correction wave is quite clear now. We can now see the beauty of elliott wave
analysis. The first correction is a regular flat for CLM2016
contract at May). It is an expanded correction for oil
continuous contract see below ( usoil
The second correction is a zigzag
gets supported in the second correction channel. Break of the channel will confirm the bearish
. After breaking it will go to the bottom line of the large correction channel.
Good luck for everyone!