UKOIL - 123 complete or WXYXZ in process?

Hello traders,

The 2 possible scenarios I see:

We go up from here to break the 75 area before heading back down to <45 which would mean we have a standard flat correction for the middle wave.

Or

We break the 50-52 price level now and then we head back up to complete a middle WXYXZ correction before any pattern continuation.



If you would like me to forecast a specific pair that I have not covered, feel free to comment it down below!
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Thank you,
Good luck

Komen:

Good job to all who are in this move! It looks like we are getting the first option, here is what we are looking at next.