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Light Crude Oil Futures

Wyckoff Distribution

By shambhalaroad
Updated
Waiting to see if this if this idea pans out. Wyckoff consolidation pattern and look to have a BC, AR, and SOW. Price currently at mid channel and may be a LPSY and go down from here or see more upwards movement for UTAD and then down movement. EW can have a 5 wave complete already in which case we are at LPSY. If we see a new high, will be an alternate 5 wave count.
Note
Looks like we are heading towards UTAD if things pan out. Could be another ST but right now alternate wave count supports the UTAD theory.
Trend Analysis
shambhalaroad

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