WTI oil down to 56.
5 waves up completed and needing a deeper ABC correction.
Don't be fooled by the bullish pop on Friday, I was for a while but it looks like a technical pop up from compression of the channel. I believe the wedge structure here will still end up being inverted and take price down to fulfil wave 5 1.272. The current wedge is highly characteristic of wave 4 corrections.
Don't be fooled by the bullish pop on Friday, I was for a while but it looks like a technical pop up from compression of the channel. I believe the wedge structure here will still end up being inverted and take price down to fulfil wave 5 1.272. The current wedge is highly characteristic of wave 4 corrections.
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