Crude Oil correction seems done, bulls waiting (Elliott Wave)
As per the given chart it seems that the correction is complete as the 5 Wave leg down seems to be very precise.
Also note the red zone that I have drawn represents the most probable support zone for the fall and the market has taken support just above it.
It is possible that the 5 th Wave of this Wave C correction might take it a little lower, in that case the boundary of this Red box should offer the support.
Important support zone 48.70 to 47. (Red box)
In all likely cases Crude Oil is a buy on dips market.
I will update further as the market progresses.
Also note the red zone that I have drawn represents the most probable support zone for the fall and the market has taken support just above it.
It is possible that the 5 th Wave of this Wave C correction might take it a little lower, in that case the boundary of this Red box should offer the support.
Important support zone 48.70 to 47. (Red box)
In all likely cases Crude Oil is a buy on dips market.
I will update further as the market progresses.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
