WES-T

Brent Crude traces out bullish Zig Zag pattern.

Long
FX:UKOIL   CFDs on Crude Oil (Brent)
Brent Crude traces out bullish zig zag pattern, wave C is equal to wave A in length, the corrective pattern is so far contained inside a parallel trend channel. If the pattern turns out to be impulsive instead, the price will drop straight through the bottom support line of the channel in wave 3 and continue down to trace out a five wave impulse pattern.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.