As per the given chart it seems that the correction is complete as the 5 Wave leg down seems to be very precise.
Also note the red zone that I have drawn represents the most probable support zone for the fall and the market has taken support just above it.
It is possible that the 5 th Wave of this Wave C correction might take it a little lower, in that case the boundary of this Red box should offer the support.
Important support zone 48.70 to 47. (Red box)
In all likely cases Crude Oil is a buy on dips market.
I will update further as the market progresses.
Also note the red zone that I have drawn represents the most probable support zone for the fall and the market has taken support just above it.
It is possible that the 5 th Wave of this Wave C correction might take it a little lower, in that case the boundary of this Red box should offer the support.
Important support zone 48.70 to 47. (Red box)
In all likely cases Crude Oil is a buy on dips market.
I will update further as the market progresses.
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Analysis on Youtube : https://www.youtube.com/c/50EYES
Video course on Elliott Wave+ Private Group : http://50eyes.com/elliott-wave-course
1-2-1 classes : http://50eyes.com/training-pr
