Crude oil could be nearing the end of a corrective B wave.
Price just touched the 0.5 extension at 52,51 for what could be wave 5 of C of B but could also touch the 0.618 extension at 52,70.
A drop below 51,31 would go some way to validating this idea as it rules out what could be an impulsive 5 move upwards.
Price just touched the 0.5 extension at 52,51 for what could be wave 5 of C of B but could also touch the 0.618 extension at 52,70.
A drop below 51,31 would go some way to validating this idea as it rules out what could be an impulsive 5 move upwards.
Note
The potential impulsive alternate with invalidation at 51,31 
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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.