Crude Oil (WTI) Target $64.50 in post-triangle thrust wave C

FX:USOIL   CFDs on Crude Oil (WTI)
78 2 1
Viewing the correction from September 2013 as a 5-wave             impulsive decline:

Assuming the recent bottom was the low of impulsive wave 3, price is now rallying in corrective wave 4.

Wave 4 appears to be an A-B-C structure, and we are at the end of wave B which has developed as a contracting triangle. Assuming so, and if my triangle wave labeling (abcde) is correct, the slope of the triangle's trend lines projected back to the triangle's origin imply that there may be a post-triangle thrust up to around $64.50.

This is also a significant price point because it would represent that wave C of Wave 4 would be equal to 1.618 x wave A. Moreover, it would meet resistance of the downward spike seen in December 2014. More interesting though, is that it would mean that wave 4 equals wave 1.
This is fairly probable. Shame the letters came out wrong...Maybe TV staff should add more EW labels for us to use, right? :)
AynCzubas IvanLabrie
Right. It seems the only way to denote circle wave labels is by formatting a square border around the numbers and letters.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out