WTI Waves and Zones
WTI is in a September 2023 to form a Large Multi Month Triangular Consolidation.
We are nearing the pointy end.
On the lower time frame , this leg can be seen to be playing out in 5 waves.
We are in wave 4 , and price is consolidating a Supply Zone. The 4th wave
may be in 3 for an ABC movement.
I am looking for a First Test Rejection of Supply. Its not sharp, its not quick. It's a small
rectangular consolidation. So maybe a small rejection to B , before a break higher to 80.
The final leg would target the ascending supporting trendline and a move to 75.
I like these big round numbers.
We are nearing the pointy end.
On the lower time frame , this leg can be seen to be playing out in 5 waves.
We are in wave 4 , and price is consolidating a Supply Zone. The 4th wave
may be in 3 for an ABC movement.
I am looking for a First Test Rejection of Supply. Its not sharp, its not quick. It's a small
rectangular consolidation. So maybe a small rejection to B , before a break higher to 80.
The final leg would target the ascending supporting trendline and a move to 75.
I like these big round numbers.
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