WTI Crude - Bearish Gartley
Bearish Gartley pattern continues to develop. Having reached the 78.6 level on the C leg, it is possible to begin D leg anytime although 88.6 is the extent of the completed pattern and is currently nicely confluent with the 4hr 100 EMA. A break through the 88.6 may be supported by the daily 20EMA (120 period 4hr) which has so far been the lower limit of the main bull trend started in Nov19. Historic support levels exist around this point ( end of feb highs) to the 1.13 fib extension level. A break down through this area will should represent a a deeper (overdue) correction and of course invalidate the Gartley.
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