In this report I have updated the Elliott Wave Count for Crude Oil by changing the position of the circled 5th Wave.
As soon as the lower black trendline is broken we will have validation for the placement of the circled 5th and a confirmed signal that the Wave 2 correction is in progress.
Crude Oil look like the correction is in progress (Elliott Wave Analysis) 7th April 2017 onwards
From a trading perspective traders can keep there stop losses above the most recent peak and look to trade short side after confirmation.
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