USOIL EW analsis - primary wave set for an upside rally

FX:USOIL   CFDs on Crude Oil (WTI)
202 0
US Oil has been trending down for a number of months and is prepared for a fair correction of the down trend. I picked the bottom when I spotted a tell tale EW pattern the Ending Diagonal , see below. After USOIL rallied impulsively to around $53 it corrected the rally non impulsively. This can therefore be considered either a primary wave, or a wave A of a larger correction. One can expect even in a bearish case a rally to around $60-$70 per barrel from this level.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out