We have a double bottom in the 4hr. The price action has retraced off of the double bottom and broken the neck line giving us confirmation of a Long. Wait for the retrace to re touch or breach the neck line for entry. Set RSI to 10 for best entry result
Wave 2 of 3 is finished and now looking at a Long move for wave 3.
My Entry would be closed candle above 85405 with a target of 9000. Stop should go at the extreme of Wave 2 moving up on each retracement.
US Crude is reaching the climax of wave B of 2 of the bigger 3.
Use your entry to get in on the C wave short. the c wave is made of 5 waves so enter on the wave 2 retrace of c wave. Target area is 4800.0.
Wave 5 is starting and because of the Price Gap, my analysis would tell me that the wave 5 will close the price Gap where my target will be. This will be classed as a truncation before the ABC sharp move short.