Crude about to complete its last corrective wave

FX:USOIL   CFDs on Crude Oil (WTI)
WTI completing its last wave soon. It looks very strongly like an elliot wave A-B-C pattern. Fib extension 1.618 fits also very well to the picture. Additionally, there are some strong supply zones coming ahead. Furthermore, Awesome Oscillator shows that WTI is indeed loosing its momentum and RSI signaling alarmingly.
So long til 1.618 fib then
Dancing a little bit around and down testing the previous lows probably.
dannyke77 etsimastuottoa
Lets see what Thursday will bring us. As they all talk about going to 60$ ;) but I like your chart with fib. Looks same as mine. But when it goes down it must hit 35 again if the fib is correct? I am new to trading so trying to learn it first before wasting my cash
If you want to use fibs, you can draw a new fib between possibly occured top and bottom and look different areas.
dannyke77 etsimastuottoa
You mean from b to c so you can see if you go short it will have to hit the 61% fib where you need to sell again and wait for new buy moment
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