Elliott Wave Theory#CRUDE OIL (WTI)
In the structure of crude oil, the oil has completed it's wave [B] correction which was comprises of a zigzag [W] is [X] wave connected to a leading diagonal [y]. When a wave ends with a diagonal then there comes a fast correction as we see in this case. There are two fibonacci supports one at 39.52 and another at 25.91. Let us see where it takes support?
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