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CFD Petrolio WTI

Crude Oil Elliott Wave Idea

Di Joseph_King
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Looks like we might be in wave 4 pull back to around the 0.382 level of wave 3 in the form of WXY > istantanea

Yellow line in the chart is the 3.618 extension of the larger degree wave 1. Possibly pullback one more time for a larger degree wave 4, then down for larger degree wave 5.

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Maybe ABC and 3 of C hitting 4.618 extension > istantanea
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WXY, or even WXYXZ possible too > istantanea .382 level to watch
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May be in something complex > istantanea

According to rules below WXYXZ could be possible.

Wave W must be a zigzag pattern.
Wave X can be any correction pattern, except an inverted broadening triangle.
Wave X is smaller than wave W.
Wave Y must be a zigzag pattern.
Wave Y is, at minimum, equal or bigger than wave X.
Wave X² can be any correction pattern, except an inverted broadening triangle.
Wave X² is smaller than wave Y.
Wave Z must be a zigzag pattern.
Wave Z is, at minimum, equal or bigger than wave X².
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So far looks like WXYXZ completed with Z equal to X > istantanea POssibly some other complex correction though
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If wave 5 has started > istantanea
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Possibly a bigger WXY in play, bounced perfectly at .786, 1.272 extension around 6740 > istantanea Which coincidentally is the 0.382 retracement level istantanea
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Could be in C, in ending diagonal istantanea
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An idea > istantanea Maybe now in starting wedge for wave 1
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Looks like a starting wedge for wave 1 of 5 so may pop out of the wedge and correct before moving down further istantanea
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The never ending correction? Now looks like WXYXZ > istantanea istantanea As Z must be at minimum equal in length to X(2) then we should see 6740 if this is a WXYXZ
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Its possible I think that this 5th wave is completed; Some nice Fibonacci levels, extensions of wave 1 and 3 > istantanea Subwaves zoomed in > istantanea
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Joseph_King
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