We have Scenarios about oil And for now two of them is important ! In this analysis, it is assumed that wave 5 is extended !
scenario 1 : we in wave 4 and the pattern is Triangle ! So after Wave e ( close 93 ) complete, we have an impulse to complete wave 5 ( 140 or above ) scenario 2 : in this scenario, Wave 4 has a zigzag structure ( abc ) And wave c is completed near 84 !
If price broke 84 dollar and stabilizes below that, then Wave 5 was not extended And the peak is before the end of wave 5 and we enter a heavy correction which is given an analysis update.
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