Double three
Since the 2008 global financial crisis, crude oil has been undergoing a double three elliott wave pattern structure. Zigzig (W) - contracting triangle (X) - expanded flat (Y). We are now at the 'C' wave of the expanded flat. The eventual target price should be close to the low at Mar 2020 during the pandemic period before heading north.
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.