Crude Oil Elliott Wave Idea
Couple of theories in one chart on how oil might move in the coming days.
Scenario 1 (white) - Correction is already completed at $34,58 and now in an impulsive move towards mid $40's; A break above $40,61 would look good for this theory.
A break below $37,42 could play out scenario 2...
Scenario 2 (orange) - A correction is still underway in WXY form, price could return towards $34 before a move to mid $40's
A follow on from the below ideas:
Scenario 1 (white) - Correction is already completed at $34,58 and now in an impulsive move towards mid $40's; A break above $40,61 would look good for this theory.
A break below $37,42 could play out scenario 2...
Scenario 2 (orange) - A correction is still underway in WXY form, price could return towards $34 before a move to mid $40's
A follow on from the below ideas:
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Disclaimer
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.