USOIL forms a large bearish pattern in the shape of a triple zigzag. This consists of primary waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.
It seems that the final sub-wave Ⓩ is a triple zigzag. It is possible that the primary wave Ⓩ will have the form of a (A)-(B)-(C) zigzag of the intermediate degree
As I write, the first subwave (A), is forming. This is the same as the minor impulses 1-2-3-4. The sub-wave 5, which is at 161.8%, will be at 61.99.
Alternatively, it is possible that the intermediate impulse wave A has ended. This scenario could confirm a price increase.
USOIL could move up within intermediate correction (B). It is difficult to predict which correction model will be accepted. It is highly likely that the correction price will be around the 76.05-mark.
Wave (B) at the level of 76.05 will be 61.8% impulse (A).
USOIL Bearish zigzag reaches $62! The first time this appeared on Orbex Forex Trading blog was when it said: “USOIL Bearish ZIGZAG to Reach $62!”