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Joseph_King

Crude Oil Elliott Wave Idea

CFDs on WTI Crude Oil (TVC:USOIL)  
Joseph_King Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Wave Analysis crude Crude Oil crudeoilwti Crude Oil WTI brent brentoil Crude Oil Brent
5
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waveanalysis crude crudeoil crudeoilwti usoil brent brentoil ukoil
Not enough coffee before posting this morning...I think my last chart is incorrect as Y wave must be an ABC, not 5 wave structure, so this is the alternative and a look at smaller timeframe below:

1H >
snapshot
B wave correcting .236 of A wave.

5M >
snapshot
Wave 4 of A correcting 0.5, fib levels seem to make sense
Comment:
Another alternative, either way I think we are at the top of the correction, or very close to it >
snapshot
Comment:
Seems a bit like no mans land, imo can fall from here from what looks like a bear flag after 5 waves up completed >
snapshot
Or we could have one more wave up to 6980 >
snapshot
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