Crude looks to have more downside remaining (Elliott Wave)

Crude : 1H : Updated : Looks like more downside is remaining in this market. From a short term perspective either Wave 3 is complete or still continuing.

If still continuing then we should see more down move from here as an Ending Diagonal.

If Wave 3 is already complete then we expect sort of Flat formation for Wave 4 as represented by the Red arrows.Strategy : From an Intraday perspective if we see Wave 4 continuation as a Flat then we will look for selling this market for Wave 5 down, however if we see an Ending Diagonal continuation then we will wait for completion of the same to trade longs.

Kommentera:

Crude : 15 min. : Expected progression :