OIL Elliott Wave Analysis: Complex Correction In Wave (iv)

Crude oil is now turning slightly down from around 98.60 after only three waves up from 95.20 so we labelled this move as wave b) that is part of a complex correction in wave iv). We are tracking idea of a flat where we may see a re-test of 95 area before prices may turn up again for wave (v) of A.
OIL 4h Elliott Wave Analysis
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Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com