There is a rarest of rare pattern happening in Oil
as well & taken bears with surprise in current session. Likely Oil
has put up a low@43$. In the last update, I expected Oil
to correct in the c - wave within 4th wave & had a target of 45.50-45.70 when it was trading at 47.30$- Congo, I got that move, but was even surprised by the wave getting extended & even going into 1st wave firstname.lastname@example.org$- which is a violation of one of the elliottwave rules. So, I am taking this pattern as leading expanding diagonal.
Now, I have my targets in the zone 51-52$ as 5th waves are going to big & big.
Let us wait for the time to tell us the story.
Abhishek H. Singh, CMT