the decline is very sharp, so i guess the recent top is the end of wave B, wave B is a double zigzag
הערה
⋅
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.
הערה
⋅
הערה
⋅
a corrective pull back may signal selling opportunities
הערה
⋅
הערה
⋅
הערה
⋅
if wave C is an impluse wave, sub wave {v} should be either an impluse wave or an ending diagonal
הערה
⋅
therefore, short-term expectation would be either or
הערה
⋅
הערה
⋅
short-term guessing
הערה
⋅
הערה
⋅
הערה
⋅
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
הערה
⋅
הערה
⋅
an impulsive rally above 52.16 could push the oil price to re-test the previous high at 54.35
הערה
⋅
close above 54.35 would likely suggest wave C has ended at recent low 49.3
Will you update your count?
So far perfect.
thanks