Brent Crude Consolidation Alternative view - Simple ZigZag down

This could be more simple - just a zigzag
wave (C) could be underway then. It could hit at least the 61.8% of (A) = 39.77 or just below the terminal point of wave (A).
It can go deeper to hit 38.40 where (C) = (A).
Watch reaction in blue box.

Comment:

it goes this map so here is an update
we can reach even lower area of blue box between 36.90 and 32.90
as per 23.6% and 38.2% Fibonacci retracement levels accordingly.
We can be only in wave 3 of (C)

Comment:

It goes with the current labeling as price almost touched (just few cents away) the blue box set in previous update, but it could be only wave 3 of (C). Another drop could appear in wave 5 down between 36.60 and 35.40. The invalidation is only above 40.10

Comment:

I think zigzag is over at 36.99
Updated chart at