Brent Crude Could Have Started Another Drop to 36.99

Jun 20, 2020

The price failed to tag the former top of 43.40, but it's ok and the huge flat correction goes as planned (see related).
We got move down and almost full retracement of it in place. Another drop is pending to complete the correction.
The minimum target is located at the former low of 36.99.

Jun 20, 2020

Note

It's good to see both benchmarks of oil as WTI already tagged the former top
while Brent couldn't.

Jun 23, 2020

Note

The wave (C) of ((X)) could be an Ending diagonal
It could still tag 43.40 to make a classic flat

Jun 24, 2020

Note

Update
The ending diagonal wave (C) of ((X)) played out as expected. The price finally tagged and even overlapped the wave (((3))) terminal point above 43.40.
The price fell out of diagonal. The drop's target should be adjusted later.