- Brent Weekly March 29, 2017
On a weekly TF in a logarithmic scale, a zigzag of wave II is seen. Since wave I is also more like a zigzag, the whole figure I-II-III-IV-V is an ending diagonal (V). At the moment, the wave [C] is not complete and another minimum is needed, below $27. The price can realize this forecast in two ways. The first is to complete the wave (4) with a zigzag and quickly go down. The second option is a long consolidation – then just like down.