CRUDE-OIL-WTI – Bullish Primary C- Long Term

CRUDE-OIL-WTI has been trading since Feb 2016 in a Bullish ABC Corrective Structure which is labeled on the chart as Primary ABC (green).

Primary A (green) unfolded as a Zig-Zag, with 5 Waves Sequence in its Intermediates (A) & (C) (light blue).
Primary B (green) completed its Corrective Structure as a Running Flat.

Primary C (green) started its Bullish Cycle with 5 Waves Sequence in Intermediate (A) (light blue), which would mean that the up-coming Bullish Intermediate (C) would unfold with 5 Waves Sequence as well.
Within Primary C (green), Corrective Intermediate (B) (light blue) unfolded as a Double Flat in the Minor WXY (red) Complex Corrective Structure.

Minor Y (red) bounced off the 100% Fibonacci Extensions of Minors W & X, which are also Levels with Points of Interest for Buyers, also 78.6% Fibonacci Retracement of Intermediate (A) (light blue).

We believe that the Corrective Cycle has finalized and that CRUDE-OIL-WTI is about to begin Intermediate (C) (light blue) with a Bullish Rally.

CRUDE-OIL-WTI – Long-Term – BUY Position:

Entry Level – 46.00
SL – 42.00
TP – 62.00