Oil have been in a correction since 2008 from the high of 145$, it has finished the 2 corrections down and now its building patterns and corrections to go up.
as shown in the picture, the Oil has finished the ABC correction pattern and i think the investors would like to break the high of October 2015 with B correction and retrace nearly to 42$ and then we look for new BULLISH patterns as the price should go higher in the upcoming months.
The B correction is a suggetion, however it could be lower but it would be a PERFECT BULLISH signal if the B correction gets close to the 51.50 $
Finally, no one can guarantee you a 100% idea or signal to buy or sell. we analyze the market to get a high probability ideas and signals. and its your call to decide.
as shown in the picture, the Oil has finished the ABC correction pattern and i think the investors would like to break the high of October 2015 with B correction and retrace nearly to 42$ and then we look for new BULLISH patterns as the price should go higher in the upcoming months.
The B correction is a suggetion, however it could be lower but it would be a PERFECT BULLISH signal if the B correction gets close to the 51.50 $
Finally, no one can guarantee you a 100% idea or signal to buy or sell. we analyze the market to get a high probability ideas and signals. and its your call to decide.