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USOIL Final Leg Of The Bullish Impulse

From orbex.com

The current USOIL structure suggests the development of a global upward impulse c of the cycle degree. This consists of primary sub-waves ①-②-③-④-⑤. By the beginning of December, the market completed a downward price movement within the primary fourth correction. It looks like a zigzag pattern (A)-(B)-(C). After the end of the wave ④, we saw a price reversal and growth in an impulse form. We can assume that the initial part of the primary fifth wave is under construction. The end of the entire wave ⑤ is likely to reach the 93.76 area. At that level, it will be at 76.4% of primary impulse ③. An alternative scenario ... (full story)

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  • Category: Technical Analysis