Let’s return to 
USOIL
Let’s continue discussing the rise in oil:
The previously described wave count can be considered valid.
We saw a correction of more than 50%, retracing back to the start of Wave 5.
An extended fifth wave developed, which is quite typical for commodities - 120 instead of 104.
The question now is: what comes next?
Since Wave B cannot consist of just a single impulse and the 130 level has not yet been reached, the move is considered incomplete.
Scenarios:
Conclusion:
Most likely, the upward movement will continue.
Given the strength of the first impulse, price could move above 130.
Wave B movements are often complex and difficult to predict, so trading decisions should always be made with caution.
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USOILLet’s continue discussing the rise in oil:
The previously described wave count can be considered valid.
We saw a correction of more than 50%, retracing back to the start of Wave 5.
An extended fifth wave developed, which is quite typical for commodities - 120 instead of 104.
The question now is: what comes next?
Since Wave B cannot consist of just a single impulse and the 130 level has not yet been reached, the move is considered incomplete.
Scenarios:
- The move from 120 to 80 can be viewed as an impulsive Wave A, meaning Waves B and C are still ahead. We may spend some time in a corrective range between 80 and 120 before continuing higher.
- The move from 120 to 80 can be interpreted as a completed zigzag correction. In that case, the uptrend may resume without deep pullbacks.
Conclusion:
Most likely, the upward movement will continue.
Given the strength of the first impulse, price could move above 130.
Wave B movements are often complex and difficult to predict, so trading decisions should always be made with caution.
---
Liked the idea? Hit Boost 🚀
Disagree? Share your targets in the comments.
---
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