IF my wave count is correct, US Oil has not completed the 5 wave structure yet.
Last night had an impulse up; but didn't do the job to convince that the direction has changed.
IF tonight's Inventory numbers pushed the price lower, I assume that we are going to complete the 5th wave before any correction or even continuing the bullish trend.
Last night had an impulse up; but didn't do the job to convince that the direction has changed.
IF tonight's Inventory numbers pushed the price lower, I assume that we are going to complete the 5th wave before any correction or even continuing the bullish trend.
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Oil is touching the previous low, either scenario can happen next:
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