I don't think Oil is finished yet with it's Bull Run , i estimate that this is a Wolfe Wave with an extended Prime 5'making it an AB=CD Wave as well. IF all of this happens then it will be a Perfect Wolfe Wave with 5' defined and targets for the downtrend to intersect with the Geo 1-4 Extended Line.
Here is a Good possibility for a Correction , i am not saying a Change in Trend , we could still see Oil going as high as 57,77
For now a Good Risk Reward Trade .
royalbengal
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i think oil can touch 58 -62 range if 55 taken out on sustainable basis more than 1 day then we can see good downswing tgt around 45 otherwise if resist 55-56 continuously then we should observe 45
johnmad
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@royalbengal, It is possible, will wait and see and trade the Fractal in .
For now a Good Risk Reward Trade .