NeeravYadav
Short

Expecting sideways to bearish movement in Crude (Elliott Wave)

TVC:USOIL   CFDs on WTI Crude Oil
Crude has now taken the low of W.W out which means that we have possible W.Y in progress of W.B of Triangle of W.X, in either case expect sideways to bearish movement here, also a pullback from near the current market level is quite likely as we are at channel support level and W.W =W.Y 1:1 equality, if this market completes the W.Y at this level then expect a Triple Zig Zag formation.
Both the possible scenarios are presented on the chart as Hypo 1 (Red) and Hypo 2 (Cyan).
Comment: T1 has been achieved also since Red channel line is broken we have room for more downside from here.
Comment:
Trade closed: target reached: Oil achieves the said T2 level, expect atleast small retracement for W.iv from here if not an upmove for an impulse or a corrective structure :
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