USOIL | Wave Analysis | Possible 4-Wave Long Detour
Price action and chart pattern medium term outlook on weekly timeframe
> Wave Pattern - ABC correction after completing 3-wave 1.618 extension of 1-wave within the C leg, now taking a detour uptrend 4-wave estimated 0.382 - 0.5 retracement between 95 - 100 USD. The final target downtrend price could be about MA200W and Head & Shoulders target zone at 60++ USD as key level support.
> Wave Pattern - ABC correction after completing 3-wave 1.618 extension of 1-wave within the C leg, now taking a detour uptrend 4-wave estimated 0.382 - 0.5 retracement between 95 - 100 USD. The final target downtrend price could be about MA200W and Head & Shoulders target zone at 60++ USD as key level support.