Crude Oil: Bullish Pattern In Play For $55 While $47.75 Holds
Gregor Horvat | Mar 05, 2015 06:01AM ET
WTI Crude oil reached a new low last week but then found some support and turned up from around 47.75 level. So for now, our view remains unchanged as decline with overlaps in wave c) can be an expanding diagonal that accomplished wave (b) correction of a higher degree. That said, market could continue to the upside now in impulsive fashion for a blue wave (c) that can be targeting even 56/58 levels.
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