Brent Crude Consolidation Alternative view - Simple ZigZag down
This could be more simple - just a zigzag
wave (C) could be underway then. It could hit at least the 61.8% of (A) = 39.77 or just below the terminal point of wave (A).
It can go deeper to hit 38.40 where (C) = (A).
Watch reaction in blue box.
wave (C) could be underway then. It could hit at least the 61.8% of (A) = 39.77 or just below the terminal point of wave (A).
It can go deeper to hit 38.40 where (C) = (A).
Watch reaction in blue box.
Note
it goes this map so here is an updatewe can reach even lower area of blue box between 36.90 and 32.90
as per 23.6% and 38.2% Fibonacci retracement levels accordingly.
We can be only in wave 3 of (C)
Note
It goes with the current labeling as price almost touched (just few cents away) the blue box set in previous update, but it could be only wave 3 of (C). Another drop could appear in wave 5 down between 36.60 and 35.40. The invalidation is only above 40.10Note
I think zigzag is over at 36.99Updated chart at
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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.