venckusarunas

WTI medium term corrective pattern

FX:USOIL   Crude Oil (WTI)
Oil             is in the middle of medium term Elliott wave 4 corrective range (flat) pattern. As the wave (a) unfolded in to 3 (abc) pattern it have high probability to be the ranged 3-3-5 pattern with a possible break out up side in the last wave (c) to reach at least Fibonacci retracement level 38.2%.
As the previous time periods and Fibonacci time extensions match in close range it is possible for medium term corrective wave 4 to end near March 7-8d.
As the corrective pattern of wave 4 is mostly hard to predict the best would be to wait for it to end and look for beginning of the Elliott wave 5 pattern signs.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out