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Possible wave count

another break below the wave A low at 50.51 will invalid the above wave count

Not

Not

alternative count

Not

or it could be something more complex

Not

if wave B is a flat, then there will be no wave D & E ( sub wave of a triangle should be a zigzag or a triangle)

Not

other possible count

but i think it's less likely to happen

Not

possible short-term count

Not

or an expanding leading diagonal? that would be pretty rare

Not

cn.tradingview.com/chart/ieQjV8MY/

Not

short-term count

Not

the decline is very sharp, so i guess the recent top is the end of wave B, wave B is a double zigzag

Not

wave C could be an impulse or an ending diagonal if wave (X) is a flat;
wave C could also be a zigzag(also including double & triple zigzag) or even a triangle if wave (X) is a triangle.

Not

a corrective pull back may signal selling opportunities

Not

if wave C is an impluse wave, sub wave {v} should be either an impluse wave or an ending diagonal

Not

therefore, short-term expectation would be
either

Not

short-term guessing

Not

There are still many different ways to count the short-term structure
The key resistance level is yesterday's high at 51.53, a solid close above this level would be an early signal for bulls

Not

an impulsive rally above 52.16 could push the oil price to re-test the previous high at 54.35

Not

close above 54.35 would likely suggest wave C has ended at recent low 49.3

Not

wsbza

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'

Email：info@ewc.space

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Feragatname

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wsbza

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'

Email：info@ewc.space