Brent Crude. Possible wave count. UpdatedI think it's a double zigzag.
The lower degree wave 4 at 69.59 could be hit.
Crude Oil
Brent Crude (UKOIL, CB1!, USDBRO) UPDATED MAIN COUNTIt's not OPEC, it's just wave C technical analysts could argue )))
We can reach at least the former peak at 69.59 where the C almost equal to A.
Amazing power of digits and their ratios.
Brent Crude (UKOIL). Main CountThis is the prevailing count.
If price would fail at the channel resistance the count would be valid.
Minimum target is at the wave W low at 41.54.
Next are the 1.272-1.414 mutipliers at 40.86-39.25
UKOIL (Brent crude). Alternative count. Ending diagonal It could be an Ending Diagonal in the position of wave C.
We can reach then the $55-58 area where both 61.8 of A and the top of diagonal meet.
Break below 45.12 (wave II) would invalidate this count.
I will add another possible count in the comment to this post to show you different perspectives.
USDBRO Daily Chart.Perfect Bearish Butterfly PatternPerfect Butterfly pattern , RSI overbought, downmove expected
