zhipengcfel
Short

Possible targets for this bearish trend

FX:USOIL   Crude Oil (WTI)
The oil             was in consolidation for 49 days which is the same as the rising time from 42.01 to 62.55. Then it started going down at 24.06.

Price target:
If CD = 1.272 AB, the target is around 53.82;
If CD = 1.618 AB, the target is around 51.75.

Time target:
If the time of wave C is as same as wave A, the bearish will finish around 16.07 or 17.07.
If the time of wave C is as same as consolidation time, the bearish will finish around 12.08.

Time is as important as price!

Good luck!
aibek
a year ago
Hello, do u think its just an ABC correction before move up?
+1 Reply
zhipengcfel aibek
a year ago
Yeah. This wave C will be much longer than wave A. I have updated the EW.
Oil needs one more wave down before bounce up (EW analysis)
+1 Reply
aibek zhipengcfel
a year ago
Hello, nice chart!
Time will tell but think we are in wave 5 down already.

snapshot

Multiple targets can be hit.
Agree that if 5 will be short it will be ended around 50 and also it equals the 5=1
Next is 38.2% of 1-3 = 49.60
Next it 61.8% of 1-3 = 47
And the last one is not EW but bearish flag pattern outcome = 46.42
+1 Reply
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