goodguy
Long

Crude Oil: Possible completion of the corrective pattern.

FX:USOIL   Crude Oil (WTI)
36 0 0
Often the B wave of a ABC corrective pattern will be a five wave triangle (abcde) as we see here. The C wave is often an fast moving wave as we see here as well. IF the ABC is forming a corrective channel ie large flag then oil             .s correction may be complete. Interestingly the US dollar index             looks like it also likely is just finishing a similar upward correction and may be ready to fall. If correct this would support the idea that oil             is about to rise. Best to ya. Goodguy.
United States