Crude oil and gold trending

Crude oil has been moving sideways since December, so we are very confident that this is just a contra-trend move within higher degree uptrend. The only question is where correction will end. Based on latest substructures and triangle pattern we suspect that this is still ongoing Wave B) with sub-wave E in motion. That said a reversal lower into Wave C) may be expected to follow in sessions ahead.

Crude oil, 4-hour

First published here: Crude oil and gold trending

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