WTI OIL is very close to the support at 75.62-74.94. The sputtering downtrend is "kicking the bucket" and the start of a new uptrend is only hours away.
TARGETS
First down to the area 75.62-74.94
then up to the area 87.53-87.62
ELLIOTT WAVES
The weekly chart shows that the a-b-c-d-e will be completed by reaching the area 75.62-74.94 where a new uptrend should start shortly.
The 4-hour and 1-hour chart are clearly sounding the bell as OIL is staging the very last sub-minuette wave down to the target.
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
wave oscillator - 4-hour chart - click to enlarge
1-hour chart - click to enlarge
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