Update on view of Crude Oil: Triangle starting?

On June 29th I suggested we may get a retreat in oil prices (see link below). This has occurred and price is now at the lower trend line. I have changed my wave count (something all EWT folks do all the time :)* ). It looks to me like a final triangle may be forming. If the current drop in prices goes below 63.40 this idea is wrong. Process your way.
Best to ya.


* why I never trade on wave counts alone.

Commento:

So far looking good

Trade chiuso: obiettivo raggiunto:

Oil hit the lower end of the near term target range (see above comment chart) this AM at 71.39. Took profits on my UWT position with good gain.