Crude Oil possible case scenarios (Elliott Wave Analysis) 16th June, 2017 onwards


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.

 

Crude Oil 16th June, 2017 (Elliott Wave Count)

Crude Oil 16th June, 2017 (Elliott Wave Count)

 

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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