On 4 hour chart i beleive this are triangles,
they are usualy found on end of correction or part of correction,
in theory (i am beginner and learning)
Other than that I beleive that short term chanel is pierced and it will go up...
I believe, and hope that Oil will go lower (long term)
but at this moment I will be going Long for Monday if there is no big weekend gap...
Expecting rise Monday and Tuesday
Analyzed wrong symbol this is WTI not CL1! :(
Fortunately all is the same with CL1! (more or less...)
Fortunately they will go together so there is no real problem...
Looks like we are waiting wave 5
On the other hand i have all 5 waves already counted... but then wave 1 should kick in...
I see that lot of you have counted to 3 so i beleive that i am wrong... but anyway
If wave 5 kicks in and its a failed vawe we can have sesonality fulfiled (drop of price towards february)
So it raely can be interesting soon :)