I have updated midterm count in USOIL.
In brief, I do not feel very strongly about the suggested count, but I think the bullish story is not over. I expect a lot of volatility in the coming months. So far it is difficult to trade.
Where I do take a bit of comfort is that this picture is fairly consistent with SPX500 outlook and I developed them completely isolated. It's just now that I thought that they look similar. Maybe I am biased and it's my subconscious mind draws a parallel, or maybe it is a valid assumption brought unconsciously.
Another bit of comfort comes from massive support at 55.77 marked by the dark blue line on the chart.
The wedge is arbitrary of course.
In brief, I do not feel very strongly about the suggested count, but I think the bullish story is not over. I expect a lot of volatility in the coming months. So far it is difficult to trade.
Where I do take a bit of comfort is that this picture is fairly consistent with SPX500 outlook and I developed them completely isolated. It's just now that I thought that they look similar. Maybe I am biased and it's my subconscious mind draws a parallel, or maybe it is a valid assumption brought unconsciously.
Another bit of comfort comes from massive support at 55.77 marked by the dark blue line on the chart.
The wedge is arbitrary of course.
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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
