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Crude OIL : Reverse Could Follow In Days Ahead

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 12, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    WTI crude oil broke higher this week, above $48 per barrel which means that price is in wave (c), final leg of wave 4. Wave (c) is an impulsive wave so trend should be finished when we can count five waves up. Well, notice that move from 44 is already in five waves which means that bearish reversal can be around the corner. As always we need to wait on confirming price action before our anticipated direction can be confirmed. From a technical perspective an impulsive decline back beneath 47 is

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