Fomenka

A longer-term view on USOIL

TVC:USOIL   CFDs on WTI Crude Oil
This is the easiest way to label the oil story. What I do not like about this count is ABC model of wave 2 (primary). I would feel more confident if it were WXY but I ran out of counts on that one and the leading diagonal as (A) with the expanding triangle as (B) is the only scenario I can see so far.

As said in the previous post the price tends to travel 100% distance of the preceding shape height. That brings the target area to 50ish if we have expanding triangle (B) is confirmed (not yet).

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