Huge AB=CD is ongoing in oil WEEK VIEW

As subject, currently we need to wait for price action -> exceed B. Then there is no resistance structure any more until the D has been reached. Another point is that the retracement of previous AB=CD and current potential AB=CD are all 0.5 which could give us good wish for the completion of the 2nd one.

Anyway, let's wait and see the result of the 1st step which is price action -> exceed B. Let's call it B plan, haha. Happy weekend!

Kommentera:

OPEC gave another opportunity to test if price can exceed B. Let's see...

Kommentera:

My current thought...