Correcting towards 1400-1420 zone
RSI divergence supports the idea of completion of the trend started in May. 5th wave usually diverges with RSI.
The price will be correcting to towards the other side of the Elliott wave channel with potential target near end of wave 4, around $1400.
Oil is in 3rd of 3rd wave up so will be rising very quick, the first target for WTI is ~$63. Stock market most likely will get (sudden or not) good news very soon.
So I am expecting some relief and positivism during Sep-Oct.
After then the previous year correction may repeat.
The price will be correcting to towards the other side of the Elliott wave channel with potential target near end of wave 4, around $1400.
Oil is in 3rd of 3rd wave up so will be rising very quick, the first target for WTI is ~$63. Stock market most likely will get (sudden or not) good news very soon.
So I am expecting some relief and positivism during Sep-Oct.
After then the previous year correction may repeat.
