Joseph_King

Crude Oil Elliott Wave Idea

Joseph_King Updated   
TVC:USOIL   CFDs on WTI Crude Oil
A theory that all this sideways trading since we hit the 5740$ high in mid August has been a complex correction to the move up from 5050$.

C wave may have finished at 5280$ and if we completed 5 impulse waves up from that low to yesterdays high at 5770$ then we may see a correction before another move up and a new high.
Comment:
Bounced off 1:1 extension and near 0.618 retracement level, wait and see now

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