1. Support 1 sows that there is an internal impulse i,ii,iii,iv,v (target 1.30 area) 2. Support 2 there will be a different wave count.
It seems that wave (x) end in a 1253 area and long positions are low risk.
abcde Triangle on wave {4}. After a downside brake we can go short again.
We expect an impulse structure 12345 as a wave c
Waiting to see the completion of wave {iii} with the bullish flag pattern (sub-wave impulsive (i),(ii),(iii),(iv),(v)).
It's likely wave {ii} has completed and bears are going to take action again.
It is possible to have uptrend continuation, if price rebound in the downside of the channel. This will be more stronger with supporting of ab=cd (12045), and with the support line 12072. In this case there is pocibillity to have wave {5} of v of (iii).
If our counting is right, it seems that we are in the tail of a or i wave
Everything show that April will be the month for crude oil (?).
After triangle completion it seems that we are in wave (iii) of {iii} and downtrend continues as we predicted. For more safety conclusions, after the break .74910