and that is in the end stages, with .61 retrace targets met (though not the top of the target zone) accompanied by extreme complacency , and bullishness.
click to enlarge
All the above suggests the somewhat greater likelihood of one last abc structure to new highs for the WTI finishing the complex series of ABC's up from 32.40. Target zone between 87.10 and 89.70.
Obviously this will represent a VERY long term top if this count is correct.
And it is very hard to see this rally as anything other than a correction to the unforgettable impulse wave down from 147 to 32.40.
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