Crude Oil - Heads Up - Update

This is an updated analysis of the price activity since my last published idea concerning WTI crude oil.

I believe we have completed the corrective process to the initial down wave that occurred May 8th.
This is ending as an ending diagonal of "C" as labeled on the chart.

I am expecting a downward move in prices in the very near term.

Note

We are in the .786 Fib retracement zone. FWIW

Note

Market is quietly breaking trendlines at the potentially significant .786 retracement level. If I have this mapped out correctly you'll want to be looking to act in the near future.

Note

This potential trade is testing one's limits

Note

Here is my price projection.

oliverrathbun

Related publications

Crude Oil - Heads Up - Topping?

by oliverrathbun

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.