NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
106 6 0
Price almost reached the end of wave 4
to reach target at 50$ on the intermadiat wave count on this auto count tool this is not the right count but it helps to show the active waves ...
with the 233 MA almost at the same zone expect a bounce back
from that zone as a minor demand zone
with a major Demand at 33.50 $ zone
A-B-C AND NEW-TOP-NEW-HIGH, $200-2XX
Reply
DanV MOD
2 years ago
Thanks for sharing your analysis. Not sure if you have the EW knowledge, but would caution you in using TV's EW tool as it can be misleading. For example the waves (1), (2) and (3) are all in wrong places and do not conform to EW rules and guidelines hence your expectation of wave (4) ending whilst might suggest to you possible low formation, really have different expectation.
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issam.istanbuli DanV
2 years ago
Thx Dan that's True indeed what u r saying ... this toll is Not counting right but according to it and my fib expansion this could become an end of its count where might be a correction for all this down move ('',)
ill fix my analysis now
Reply
DanV MOD issam.istanbuli
2 years ago
YW. I will publish my chart later with the details, but minor counts suggest that from last high from which this cycle began we could be near minor wave 3 then expect a bounce before final wave 5 to complete the cycle. So the zone for the low is approx 50 as round number but could get lower on spike to even 45 before the cycle completed.
Reply
issam.istanbuli DanV
2 years ago
true mate
on smaller TF scale expecting the 44$ where it could be reached
Reply
DanV MOD issam.istanbuli
2 years ago
Great. Excellent.
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