kryton9

USOIL(Crude Oil WTI) near term target price

FX:USOIL   Crude Oil (WTI)
Near term low price target (46.83 to 46.86), before possible leg up to a target price of around 56.55.
This is just using the emotional pattern indicators of XABCD Pattern ( Bat Pattern ) and Fibonacci Retracement
to figure out the low target prices around D. The possible leg up is based around the B point. The time frame
is days between X and D divided by 3 (88 bars / 3 = approx. 29 days ).
One of the caveats of the Bat Pattern, it's tricky to determine whether the D point will be a 1.618 of AB, a 88.6 of XA or a 2.618 of AD. Most of the time it plays out as an 88.6 but seems like this one was a good 2.618.
snapshot
Both bats are 88.6
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