Crude Oil possible case scenarios (Elliott Wave Analysis)
It looks like that from the white marked box we are seeing a 5 legged down movement, currently I have 2 counts for this situation, Black and Red, both counts are quite probable, my bias is slightly towards the red count that is I think that a leg down might still remain which is a direct conclusion of the fact that the Black Wave 2 consumed quite a bit of time.
I think that traders should stay away from this market for a while as the higher degree counts are offering a lot of different probabilities, you should read my last report on Crude to get a detailed look of the bigger picture.
I will update as this market progresses.
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