chessnut

USOIL EW Analysis - Bullish triangle almost set to rally.

FX:USOIL   CFDs on Crude Oil (WTI)
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Oil is in wave iv of a very large and rapid decent. After picking the bottom ending diagonal I published a chart describing an abc that needed to take us higher to set wave iv in place. This is an adjusted count catering for what seems to be a triangle pattern unfolding in 3s forming in wave B position. This still implies upside to the $60 area although upside is very limited past that. Triangles are terminal moves so this will likely produce a trend going short signal when complete.

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Same ideas :) I like the count, though im not too into that theme. THank yu!
+1 Reply
hope everyone is on the oil train to $60+! =)
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:-D Short took profit soon enough :D
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