Odds favor that the correction isn’t over yet. The short-term oil Elliott wave structure continues to appear as a flat or complex double-three correction. WTI traced out minuette wave (i) probably as an expanding diagonal. Minuette wave (ii) counts as an expanded flat correction. It is near a 61.8% fibonacci retracement right now.
We expect a drop in wave (iii) to take WTI oil below 60 USD.
s/l -2.6%
Target +10.5%
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More than 250% unleveraged return
44 trading ideas
44% winners
4 Month timeframe (Dec. 13 - now)
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We expect a drop in wave (iii) to take WTI oil below 60 USD.
s/l -2.6%
Target +10.5%
Check out our trading idease here on Tradingview:
More than 250% unleveraged return
44 trading ideas
44% winners
4 Month timeframe (Dec. 13 - now)
0 cost to our followers on this great platform here
Trade closed: stop reached:
-2.64%