Crude Oil Elliott Wave Idea
An update to previous idea > 
I previously theorized that C wave (I now have this as Y) would terminate at the 0.618 extension of A wave, however, it appears to have stopped short at the 0.5 extension; it's possible that the correction is completed and now on to new highs, or a more complex correction as shown in the chart.
If WXY is not completed at 6613 maybe a more complex correction with X(2) and Y to follow to make WXYXZ. X(2) must be at least equal equal in length to Y so at least $70,40 for X wave if this turns out to be WXYXZ, followed by Z which must be at least equal in length to X(2) which may take us down to the 0.382 level at $64.
If WXY is completed at the current level then we could go on to see new highs for 2018.
I previously theorized that C wave (I now have this as Y) would terminate at the 0.618 extension of A wave, however, it appears to have stopped short at the 0.5 extension; it's possible that the correction is completed and now on to new highs, or a more complex correction as shown in the chart.
If WXY is not completed at 6613 maybe a more complex correction with X(2) and Y to follow to make WXYXZ. X(2) must be at least equal equal in length to Y so at least $70,40 for X wave if this turns out to be WXYXZ, followed by Z which must be at least equal in length to X(2) which may take us down to the 0.382 level at $64.
If WXY is completed at the current level then we could go on to see new highs for 2018.
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