There is a possible one more leg up in WTI. The last decline (elipce mark) is not an impulsive due to the overlap within it.
In case that is true to the market there is some potential in wave Y. RSX 1H is to the upside.
In case that is true to the market there is some potential in wave Y. RSX 1H is to the upside.
Trade closed: target reached
Possible level for the end of the current corrective rise. RSX 1H is still forming the turn to the downside but not yet. This is also can be only the end of wave a in Y. That should be enough to get stop order into break even zone.
Note
First channel can be the level of the turn. It will be evident soon if that is true or false
Trade closed: target reached
Possible H&S not long to wait for the prove.
Note
Not clear whether wave Y is finished. Current downside is not impulsive yet so that can be only be wave b of (c) of Y with targets at 71+-Otherwise the current downside can be 1-2 sequence. Break lower that 69.08 will add odds to this scenario.
Note
Seems to be 1-2,1-2 to be the basic scenario now. If this imulse can be the start of the big third wave but it is still possible to be part of the correction in the second wave. The shape of the subsequent rise will tell more.
Note
Ups FIbo flipped upside downTrade closed manually
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.