Update on crude
Crude it broke 57.36 so we have to expect top is not yet in place. after crossing above 57.36 it fell back 55 zone but expectation remains the same that top is not yet formed because it broke 57.36 so top is still due. at the moment my expectation is around 58.9-60$ and lets see how far it goes
Chart added
As long as crude stays within these channel lines, wave 5 is still in place. we can conclude wave 5 is over only when price falls below the lower channel line with impulsive force.
View attachment 33663
Crude it broke 57.36 so we have to expect top is not yet in place. after crossing above 57.36 it fell back 55 zone but expectation remains the same that top is not yet formed because it broke 57.36 so top is still due. at the moment my expectation is around 58.9-60$ and lets see how far it goes
Chart added
As long as crude stays within these channel lines, wave 5 is still in place. we can conclude wave 5 is over only when price falls below the lower channel line with impulsive force.
View attachment 33663
There are signs for bearishness as it came out of channel. So its better to be very cautious. Unless it breaks above 57.2 there is no bullish sentiment as of now and top could be been already formed as truncated. or it may be forming a triangle. If it breaks below 55 then automatically triangle will be negated and that will convince that top has already been formed.lets wait and see I am just waiting for either of the levels to get broken to be confident.
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