is the correction over??
OIL CMP 396
Elliott- this is a double zig zag correction. The A wave and C wave have a correlation of 1 and 1.618. The second zig zag has halted at 1 of A. Even the second zig zag is related to the first by Fibs. It too has halted at 1 of A. So definitely a high prob reversal zone. Hope to see impulse wave post that and not another corrective pattern which will mean further extension of the correction.
Elliott- this is a double zig zag correction. The A wave and C wave have a correlation of 1 and 1.618. The second zig zag has halted at 1 of A. Even the second zig zag is related to the first by Fibs. It too has halted at 1 of A. So definitely a high prob reversal zone. Hope to see impulse wave post that and not another corrective pattern which will mean further extension of the correction.
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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.