Crude Oil looks to be moving in a Triangle (Elliott Wave Analysis) 3rd August 2017 onwards


After completing Wave 3, it seems that Crude Oil is stuck in a sideways movement as of now which looks most likely as a Triangle.
A break above 48.35 or 49.93 would say that things are otherwise.

 

Possible Triangle in Crude Oil, 3rd August 2017 onwards (Elliott Wave Analysis)

Possible Triangle in Crude Oil, 3rd August 2017 onwards (Elliott Wave Analysis)

Overall I expect one leg up after the completion of this pattern for Wave 5.
I will update further as this market progresses.

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