I decided not to count waves with this one as we have a very clear picture on the chart. USOil after a huge sell off, climbed with a sharp move breaking a medium term resistance level (blue trendline). For the previous days it's in a corrective structure moving into a descending channel. If price moves lower we will have the completion of a bullish butterfly pattern with its D point at a key level ( 0.618 of the impulsive wave, lower trendine of the channel). As for profit target we should aim for the long term resistance, around 48.70.
Trade closed: target reached
Comment:
False update..! This trade never was triggered..
