Chart had a bullish HVF breakout but did not reach target. Despite overlap of wave 1 and 4, selloff appears to be Elliot Wave bear trend. New target for price of oil is bottom end at $32
Note
Quick retest of funnel level, tapped it then continued up with speed. This is bullish price action after FOMC and although i do not expect it to get above 54, the strength to hold the funnel level and continue up is enough to make the bear case here weak currently.
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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.