Crude is at 72.50 where ab=cd(127%) and has the potential to get to 75.50 where ab=cd(162%). Crude has an alternate count where it has the probability to get to 80.00s.
On the ab=cd scenario then a break below 70.00-68.00 will invalidate the upside to 80.00's and downside will be around 55.00-50.00 price zone.
From the lows of 58.80 there is another alternate where when this move completes within 72.50-75.50 will be the 3rd impluse to complete then a 4th and 5th o follow which will take the price to 80.00's One can choose any which way they would like to label their count be it 1,2,3,4,5/ a,b,c,d,e or w,x,y,x,z, out will be the same.
Caution is warranted at this price zone 72.50-75.50.
Comment
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correction in price label 60.13 should be 58.06
Price at 72.88, price on the 15min completes 5 impluses from 70.24-72.88 which could have completed an ABC from 67.60-72.88 (67.60-71.86=A,71.86-70.24=B,70.24-72.88=C).
@dr90210, I do not know whether oil is going to drop soon or not however I look at how price reacts at certain levels and warrants the trade in my favour or not.
tmmfm
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50/55 I be humble hero, nice chart and projections
quql
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Man, when price become to 80
You will be an russion national hero :)
Trading1to100
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@quql, Thank you, I am simple no hero, a lot of knowledge to share