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.
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.
Note
It's good to see both benchmarks of oil as WTI already tagged the former top
while Brent couldn't.
Note
The wave (C) of ((X)) could be an Ending diagonal It could still tag 43.40 to make a classic flat
Note
UpdateThe 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.
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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.