According to my Elliott waves count, we are riding wave three, which is right now breaching peak of wave one level. with help of Fibonacci extension (1,618) i can put my target at around 61,50$ before some correction up, where is also support of trending line. What do you think guys?
Here is my bearish scenario for crude oil. I assume we are still in correction from a long spike (wave 3). My target price is at around 50% fibonacci level before oil can go up again. Whad do you think?