Hello traders, it has been a while. Here is a harmonic pattern trading setup capable of initiate the reversion in the OIL market. If the price manage to descent in the 21/barrel territory accompanied with the right price action we will have a chance to go long. Of course news are playing a key role in the Oil market and maybe a dicline to that price to be followed by a new agreement/announcement of OPEC and Non-OPEC producers for more drastic measyres in order to support the price.
In any case this is a technical analysis setup and can be stand alone.
Targets to the 38,2% and 61,8% AD retracement and Stops 10-20 pips below X point.