We opine that the crude oil will retrace and make a healthy correction as we see the completion of impulsive wave and currently making the correction wave.
As the resistance circa the gap is definitely strong resistance level, oil need to build up cause and momentum for another upward move.
For now, medium term is still in the trading range.
As the resistance circa the gap is definitely strong resistance level, oil need to build up cause and momentum for another upward move.
For now, medium term is still in the trading range.
Note
Wave c was short, and it is part of the wave variation.
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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.