Crude Oil futures - CL1! - Elliottwave analysis

NYMEX:CL1!   Light Crude Oil Futures
Crude oil futures CL1!- It is in (Y) wave down from major top in 4 hr time frame. The down move was ABC zigzag as W wave and probably X wave is under progress. The drop in 10 min time frame seems wave a down so sell on bounce for c wave down as small trade set up. There are three different probability associated with this structure. (1) is (X) wave continue as further wxy or flat abc and take some time. (2) is it extend the C wave down of W wave and go below 38.20 level as bearish set up. (3) is Y wave is already down in progress as the double zigzag (Y) wave as bear case. So keep eye on next price action to understand the bigger move.

Give thumbs up if you really like the trade idea.


It looks like your analysis did not work out
cyclewave paakamo1
@paakamo1, you seen older updates, missed out today's.
But anyway, what i wanted to expect is good entry with decent risk reward ratio. don't forget that i am bearish in this analysis - never say buy to crude. only sell when good bounce
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out