THIS IS NOT AN UPDATE
Just a wishfull thinking. The H&S pattern is not complete yet though looks credible. The price is in clear downtrend together with the broader market, however lies on 200MA and very strong support levels as indicated by double line on the chart.
The (w)(x)(y) structure does not look organic. Wave (x) is way too complex and legnthy compared to (w) and (y). And the latter ones look too small compared to (x). I do not like the count and suspect the move down is either incomplete or the count is simply wrong, but do not have anything better to offer you at this point.
Just a wishfull thinking. The H&S pattern is not complete yet though looks credible. The price is in clear downtrend together with the broader market, however lies on 200MA and very strong support levels as indicated by double line on the chart.
The (w)(x)(y) structure does not look organic. Wave (x) is way too complex and legnthy compared to (w) and (y). And the latter ones look too small compared to (x). I do not like the count and suspect the move down is either incomplete or the count is simply wrong, but do not have anything better to offer you at this point.
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts