$WTI - Market Analysis for Jul 31st, 2018

If crude completes 5 waves down from the recent high, it should be as wave (i) of c, suggesting that the flat structure off the July low for circle wave b of 4 has completed and price is heading back down to the mid to low 60s as wave c of 4 next.

WTI A0-FX - Micro - Jul-31 1756 PM (2 hour)
WTI A0-FX - Micro - Jul-31 1756 PM (2 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.