Crude Oil: Possible completion of the corrective pattern.

27 nov 2014

Often the B wave of a ABC corrective pattern will be a five wave triangle (abcde) as we see here. The C wave is often an fast moving wave as we see here as well. IF the ABC is forming a corrective channel ie large flag then oil.s correction may be complete. Interestingly the US dollar index looks like it also likely is just finishing a similar upward correction and may be ready to fall. If correct this would support the idea that oil is about to rise. Best to ya. Goodguy.