NeeravYadav
Short

Pullback expected before the next down leg (Elliott Wave)

TVC:USOIL   CFDs on WTI Crude Oil
Crude currently seems to be in the ending stages of the first Impulse down from 72.87 level.
This Impulse down was sharp as is expected after an Ending Diagonal is formed, from what is visible now we can complete this leg down near 64 or 63.30 level and from there form atleast a 3 legged correction to the upside for Wave 2 or Wave B which can take Crude possibly till 68.30 levels (more clear targets will be visible once the bottom is formed).

The important thing here is to wait for the pullback for adding more shorts or initiating new shorts to the downside which can take Crude till 59.40 to 56 levels.
Comment: Crude : Hypo 1 : Expected progression :
Comment: Hypo 2 : Bearish scenario suggesting that W.(5) down is still remaining :
Since both Hypo 1 and Hypo 2 have equally opposing views Crude is a wait and watch for now.
Comment: The leg up from 63.54 low looks like the start of a new Impulse hence wait and watch for now in Crude :
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