NeeravYadav
Short

Very Low risk shorting opportunity in Crude Oil

TVC:USOIL   CFDs on WTI Crude Oil
I currently have 2 counts that I'm following in regards to Crude, the first one above (Red only the Red labels) is taking the current Wave iv progression as a Triangle and the other one down below is taking W.iv as a Complex Correction.

As per both of these counts the Invalidation Level is coming around 58.56, which means that a move above that level would mean the Invalidation of both of these Hypos.
Given the above count and the current price of Crude being around 58.19 we have a very low risk shorting opportunity over here which can take prices down to even the 55.25 levels.

Let's see how this market progresses.

Comment: Even if we consider Hypo 2 (Yellow Count) we still need to go down for W.E, hence considering all 3 counts discussed till now we have a very strong shorting opportunity here.
Comment: The Hypo 2 (Yellow Count) considers W.A as a Double Zig Zag type of correction instead of a Simple Zig Zag.
Trade closed: stop reached
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