US30 has been classified as a Flat Pattern in a Primary 4 (blue) degree. The structure consists of a three-swings sequence in its Intermediate (A)(B)(C) (red) sub-waves.
Intermediate (A) (red) reflects the 13.50% sharp decline which took place in early February 2018, while the rising sequences which unfolded towards early October 2018 has been labeled as the Intermediate (B) (red).
Intermediate (B) (red) has been identified as a Double Three pattern in its Minor sub-waves WXY (turquoise), due to the complexity and conflict of degrees behind its appearance.
Minor W (turquoise) and Minor X (turquoise) defined the structure with excessive swings and corrective sequences. Minor Y (turquoise) unfolded with a Leading Diagonal in Minute A (blue) and an Ending Diagonal in Minute C (blue).
Because of the fact that Intermediate (B) (red) exceeded the start of Intermediate (A) (red), the Flat Pattern could be classified either as a Running or an Expanding Flat structure. In a Running Flat scenario, the 100% Fibonacci Extensions of Intermediate (A) & (B) (red) could pose as a support and the continuation of the bull market towards higher grounds than 27500.00 levels. However, in an Expanding Flat scenario, this would imply a much bigger wave in volatility and an Extension in Intermediate (C) (red).
Intermediate (C) (red) has been classified as an impulse, with a five-swings sequence in its Minor sub-waves 12345 (red).
Minor 3 and Minor 4 hovered around the ascending channel’s lower trend-line, which eventually lead towards a bearish breach and a technical hint that US30 could have officially entered the bearish territory.
Minor 5 (red) could end its bearish sequence at or around the 23350.00 or 23150.00 vibration zone, where Intermediate (C) (red) could also resonate a possible end of the bearish sentiment and a probable continuation of the bull market.
Intermediate (A) (red) reflects the 13.50% sharp decline which took place in early February 2018, while the rising sequences which unfolded towards early October 2018 has been labeled as the Intermediate (B) (red).
Intermediate (B) (red) has been identified as a Double Three pattern in its Minor sub-waves WXY (turquoise), due to the complexity and conflict of degrees behind its appearance.
Minor W (turquoise) and Minor X (turquoise) defined the structure with excessive swings and corrective sequences. Minor Y (turquoise) unfolded with a Leading Diagonal in Minute A (blue) and an Ending Diagonal in Minute C (blue).
Because of the fact that Intermediate (B) (red) exceeded the start of Intermediate (A) (red), the Flat Pattern could be classified either as a Running or an Expanding Flat structure. In a Running Flat scenario, the 100% Fibonacci Extensions of Intermediate (A) & (B) (red) could pose as a support and the continuation of the bull market towards higher grounds than 27500.00 levels. However, in an Expanding Flat scenario, this would imply a much bigger wave in volatility and an Extension in Intermediate (C) (red).
Intermediate (C) (red) has been classified as an impulse, with a five-swings sequence in its Minor sub-waves 12345 (red).
Minor 3 and Minor 4 hovered around the ascending channel’s lower trend-line, which eventually lead towards a bearish breach and a technical hint that US30 could have officially entered the bearish territory.
Minor 5 (red) could end its bearish sequence at or around the 23350.00 or 23150.00 vibration zone, where Intermediate (C) (red) could also resonate a possible end of the bearish sentiment and a probable continuation of the bull market.
