Crude Oil Wolfe Wave Completion, 1-4 Line Target

Here we have a Wolfe Wave for Crude Oil, CL1!. Price broke the 1-3 trend line but did not quite reach 5'. Therefore, we look at the 1-4 line as a target. The arrow pointing to the 1-4 line does not signify the path price will be taking. It is simply a visual tool.

I should also mention, I do not have a stake in Crude Oil. I am comparing the movement of this chart to the related ideas below.

Kommentar:

Hello Traders,

Consider Geo's Off-Set rule at point 4(50.92) as a potential area of reversal.