Crude Oil : Downtrend start again
Good short opportunity from the following reasons:
1) wave iv looks like 3-3-5 expanded flat correction in Elliott wave principle.
2) sufficient fib 0.618 retracement to wave iii completed.
Stop loss and Profit target:
1) Stop loss is located on the end of wave i that is failure level of Elliott wave principle.
2) At a rough estimate, the bottom of wave v could be within the price range from 20 to 25.
1) wave iv looks like 3-3-5 expanded flat correction in Elliott wave principle.
2) sufficient fib 0.618 retracement to wave iii completed.
Stop loss and Profit target:
1) Stop loss is located on the end of wave i that is failure level of Elliott wave principle.
2) At a rough estimate, the bottom of wave v could be within the price range from 20 to 25.
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USOIL chart:
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