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Triangle On Crude OIL Points Lower! - Elliott Wave

A bigger triangle as part of a three-wave A-B-C reversal can be unfolding on crude oil in wave B. At the moment we are tracking final stages of a triangle, so be aware of a drop once final leg E of a triangle fully shows up. A drop below the lower triangle line would be an early sign of a completed triangle, and more weakness into 42.0/39.0 area for a wave C.

Crude OIL, Daily

Oil

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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