A rare leading diagonal in USOIL, more upside on EUR bounce
Good morning all,
We may have a pleasure to observe a good quality leading diagonal in USOIL, which is a relatively rare pattern.
Leading diagonals appear in wave 1 or wave A position in impulses or corrective stuctures, and consist of 5 overlapping waves all of the waves being zigzags (sometimes waves 1-3-5 are impulses).
Leading diagonals are usually deeply retraced, but once retraced, the advance resumes.
With Brent forming this structure and WTI showing good signs of a developing impulse I see this structure as a good start for an uptrend.
Waiting for a bounce in EUR to support this move up.
We may have a pleasure to observe a good quality leading diagonal in USOIL, which is a relatively rare pattern.
Leading diagonals appear in wave 1 or wave A position in impulses or corrective stuctures, and consist of 5 overlapping waves all of the waves being zigzags (sometimes waves 1-3-5 are impulses).
Leading diagonals are usually deeply retraced, but once retraced, the advance resumes.
With Brent forming this structure and WTI showing good signs of a developing impulse I see this structure as a good start for an uptrend.
Waiting for a bounce in EUR to support this move up.
