Im seeing 3 zig-zags forming a triangle to complete minor wave #4 correction. If true, we should see a strong and impulsive move to the upside. From the size of the triangle ( about $10) we should see in the next several weeks hitting $96 minimum. $96 lines us up at a pivot from Sept 2014. Remember, it should be impulsive heading up and not willy-nilly or sideways. If not impulsive, this may be a clue that there is a greater move down. Either case, if oil is heading lower we should progress higher first.
As I consumer I hope I'm wrong and oil drops. Im tired of paying these high prices, but this is what the charts are showing me.
As I consumer I hope I'm wrong and oil drops. Im tired of paying these high prices, but this is what the charts are showing me.
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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.