TradingView
Joseph_King
Apr 19, 2018 6:53 AM

Crude Oil Elliot Wave Idea 

WTI CRUDE OILTVC

Description

Look at possible structure for wave 5 as per this chart >


Could have completed wave 1 from 6183 to 6775, then 0.382 correction (a fairly common wave 2 fib level), now in sub wave 1 of 3, with sub wave 2 on the way.

There does appear to be a pennant/triangle forming though which could mean a little more upside to 6910-6950 >

Comment

Wave 4 (white waves) in the chart should be at 6919, not where it's currently showing.
More