Elliot Wave Setup, (On 5th wave) Long

Crude Oil (WTI)FXCM

Description

⋅ Jan 21, 2019 6:37 AM

According to Elliot wave theory, crude is on its 5th wave. As a rule, W1 and W5 are to be of same length, therefore i have certain belief that our 1st target is around 55.40, which is also 38% retracement level from the starting of trend (i.e oct).

Wave Analysis