FayezMutairi

FayezMutairi

Heading towards 70

FayezMutairi

The correction seems complex and an impulsive wave has yet to come.

FayezMutairi

Brent most probably is moving in an ending diagonal heading back to double top at $63 to complete the fourth wave then it will be heading down to make a double bottom around $45

FayezMutairi

Taking off retracement tool :)

FayezMutairi

If it drops again below 52, then wave will most probably be over and a new wave is in progress initially targeting $38.

FayezMutairi

A bounce back is on the way targeting around 56.70 .

FayezMutairi

Elliott wave trial to find out where Brent is heading to.

FayezMutairi

Brent oil has retraced from its bottom at 67.5 to 73 in a clear 5 waves. Now it seems is in a flat correction. Once completed it will be heading towards 77.5 either as wave 3 or wave C.