Elliott Wave Analysis & Forecast, WTI - OILUSD, H4, 2019

Crude completed its blue wave 3 at 50.59 on 5th June, 19. After that correction wave (blue 4) has started and the ideal target for this wave should be 38% Fibonacci level. Remember elliott wave rule that blue wave c could reach at level of 60 just below the end of blue wave 1. Buyers can enter into trade from current price or better targeting 55.60 and 57.0 area while safe stop loss could be at 50.75.


muhiuddin

Trade active:

Move SL to 51.37

Trade closed: target reached