Elliott Wave Theory#CRUDE OIL (WTI)
In the structure of crude oil, the oil has completed it's wave [B] correction which was comprises of a zigzag [W] is [X] wave connected to a leading diagonal [y]. When a wave ends with a diagonal then there comes a fast correction as we see in this case. There are two fibonacci supports one at 39.52 and another at 25.91. Let us see where it takes support?
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.