Triangle and overlaping patterns implying a wipeout in Crude
Clear impulse off the Feb lows.
Followed by 3 waves down.
And what is currently A-TriangleB-C pattern up in a rally.
Fib cluster resistance at 53.03.
The simplest resolution is a strong C wave down below 40.
Rallies in Crude and US equities for the next few weeks.
After that, not a compelling Bullish situation for Crude or the rest of the US Equities as Crude tips over and either develops into a larger triangle, or wipes out in a C wave down back to 36.
Followed by 3 waves down.
And what is currently A-TriangleB-C pattern up in a rally.
Fib cluster resistance at 53.03.
The simplest resolution is a strong C wave down below 40.
Rallies in Crude and US equities for the next few weeks.
After that, not a compelling Bullish situation for Crude or the rest of the US Equities as Crude tips over and either develops into a larger triangle, or wipes out in a C wave down back to 36.