CL1! Is the correction in Crude Oil coming to an end?
Is the correction in Crude Oil coming to an end? Since March '22 the price of a barrel oil has formed an ABDCE pattern. It looks unusual, but it works for the moment (!). If the price didn't form a lower low respecting the 10th of Nov. the price could start a new uptrend overthrows 130 US-$.
From an Elliott Waver perspective the condition for wave (E) in red was minimum 50 % of the length of (C)-(D). This happened already and the market formed a bounce of 5, - US-$. Which for now will be tested and lead me to this trading idea.
From an Elliott Waver perspective the condition for wave (E) in red was minimum 50 % of the length of (C)-(D). This happened already and the market formed a bounce of 5, - US-$. Which for now will be tested and lead me to this trading idea.
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