USOIL - A closer look - Wave 4 Almost complete - Top In Sight
On my previous Oil chart I said the end of the trend is near, well this is the closer view and when this Wave 4 completes Wave 5 should see this thing higher.
A break of this trend line should signal the end of Wave 4 so keep an eye out for it.
When Wave 5 completes we should see an equally impulsive downward move which will be the beginning of the next trend towards the downside.
If we don't see this equally sharp move against Wave 5 then it could be a corrective structure which could indicate further upside so we will wait for clues.
A break of this trend line should signal the end of Wave 4 so keep an eye out for it.
When Wave 5 completes we should see an equally impulsive downward move which will be the beginning of the next trend towards the downside.
If we don't see this equally sharp move against Wave 5 then it could be a corrective structure which could indicate further upside so we will wait for clues.
Comment:
I am still expecting this to bounce soon. I will post another chart shortly explaining how this is possible.
Look for a break of the trend line.