Crude Oil pumpjack at sunset by Zbynek Burival via Unsplash

Crude Oil Remains In A Bearish Triangle

Gregor Horvat Wavetraders Thu Mar 27, 11:03AM CDT
Crude Oil pumpjack at sunset by Zbynek Burival via Unsplash

Crude oil is recovering away from the lower triangle line, which suggests it’s in final wave E of a larger ABCDE triangle formation within higher degree wave (B) before we will see a bearish breakout for wave (C).

Crude Oil Remains In A Bearish Triangle Crude Oil Daily Chart
Crude Oil Daily Chart
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Basic Bearish Elliott Wave triangle pattern shows that Crude oil can be trading in final wave E wave (B) before a continuation lower for wave (C).

Basic Bearish Elliott Wave triangle pattern
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