the decline is very sharp, so i guess the recent top is the end of wave B, wave B is a double zigzag
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wave C could be an impulse or an ending diagonal if wave (X) is a flat; wave C could also be a zigzag(also including double & triple zigzag) or even a triangle if wave (X) is a triangle.
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a corrective pull back may signal selling opportunities
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if wave C is an impluse wave, sub wave {v} should be either an impluse wave or an ending diagonal
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therefore, short-term expectation would be either or
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short-term guessing
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There are still many different ways to count the short-term structure The key resistance level is yesterday's high at 51.53, a solid close above this level would be an early signal for bulls
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an impulsive rally above 52.16 could push the oil price to re-test the previous high at 54.35
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close above 54.35 would likely suggest wave C has ended at recent low 49.3
Will you update your count?
So far perfect.
thanks