As you see in the chart, we expect more downsize in Crud Oil(CL) and we like to buy medium term wave II in red to around $50 where we expect that the smart buyers will arrive. Please be patient for more some days in order to do a good long term buy. Next week we'll update this forecast.
Trade active:
Technical Information:
In the chart we've shown a invalidation level around $33.51 which can't be crossed if that we go more down. Now CL is doing a flat that's why it's very difficult to forecast where the wave C in black and wave II in red. We expect that around $55~60 the smart buyers will arrive
Technical Analysis:
- Still don't buy Crude Oil(CL) in the short term
- Crude Oil(CL) in H4 and H1 is Right Side down
- We still expect that it will extend more downside
Technical Information:
In the chart we've shown a invalidation level around $33.51 which can't be crossed if that we go more down. Now CL is doing a flat that's why it's very difficult to forecast where the wave C in black and wave II in red. We expect that around $55~60 the smart buyers will arrive
Technical Analysis:
- Still don't buy Crude Oil(CL) in the short term
- Crude Oil(CL) in H4 and H1 is Right Side down
- We still expect that it will extend more downside
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Crude Oil(CL) in H4 and H1 is Right Side down.
So we expect it to extend lower before the rally resumes. Our daily chart is still with consistence.