Energy is very difficult to trade under present OPEC situation. Yet formation of structure is such that it tends to break down after Zigzag consolidation in form of ABC towards 61.8%.
Look for bounce towards 3.2 as wave (2) advancing towards below 3$ in form of wave (3). I believe this completes the cycle by approaching $2.5 in five wave structure.
Take your entry wisely with perfect money management. energy trades and OPEC can burn your accounts. Trade your own plan
Happy Trading
Handel aktiv
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As we suspected, it became weak on follow through. I am going short with tight SL