Bullish CL scenario
Because bear scenario is unclear, also looking at what a bull scenario will look like. The recent 5 wave up provides a 61% area for a bounce back up, which it may have hit with an ABC correction.
This would mean it's working on the 1 wave or maybe the 1 and 2.
In either case it's likely to be choppy until the 3rd wave shows up.
If a big move up appears, I will be looking to enter aggressively if it's above the recent 1 swing.
This would mean it's working on the 1 wave or maybe the 1 and 2.
In either case it's likely to be choppy until the 3rd wave shows up.
If a big move up appears, I will be looking to enter aggressively if it's above the recent 1 swing.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.