Joseph_King

Crude Oil Elliot Wave Idea

TVC:USOIL   CFDs on WTI Crude Oil
An update on this idea >

I think we're still in the wave 4 shown in the above chart. Wave 4 touched wave 1 and started moving downward so might still be alive.

Possibly touch 6016 then correct before finally breaking out of the large triangle towards $58.

This move and the move from 6328 to 5995 are almost identical but current move is a smaller degree.

Still holding a short from 6224. 6208 was closed in profit and I have added two more at 6135.
Comment: If this move down is done then we could be in C wave, 1.618 of A to 6190 > Before next leg down
Liked the 1st chart
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