Hey traders! Oil has entered the next watch level after an extended corrective bull wave. An alternate bat is complete at the 1.13 projection of the (W)/(X) wave. I expect some resistance at these levels. The short target is our unhit pivots. I expect further drop twoard low 40's after that to complete (Z). More updates as the tide rolls. Happy trading!
Comment:
Hey traders! Today we witnessed what could possibly be the first sign of breakdown back into the mid 40's. The count suggests one more pop before the drop, but the final wave will tell us more information. I will sell this rally if/when it occurs. Cheers
