Following up with my post 22 days ago, when i made a bold anticipation of wave 5 (although i do not understand Elliot wave analysis). Seems like OPEC is driving the wave 5 i am talking about?
Now, i am going to make another bold estimation. Where does the wave 5 stops or reverse? I really do not know
But by using a little reference from RSI, i first suspect a bullish divergence at hand.
I reckon price will continue to fluctuate and drop until RSI found a support at purple region.
Another condition is needed, there must be a reversal signal such as hammer or DOJI for the reversal to play out more confidently.
Fib level shows ~ 77.18 if not 74.33 for next support
Now, i am going to make another bold estimation. Where does the wave 5 stops or reverse? I really do not know
But by using a little reference from RSI, i first suspect a bullish divergence at hand.
I reckon price will continue to fluctuate and drop until RSI found a support at purple region.
Another condition is needed, there must be a reversal signal such as hammer or DOJI for the reversal to play out more confidently.
Fib level shows ~ 77.18 if not 74.33 for next support
