I suspect that wave ii (red label) is not finished and we may be seeing a triangle in the making to finish it off (black labels).
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts