NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
According to the current structure; it is very difficult to identify whether we are in an impulse wave structure or corrective wave structure...

1 can also be labeled as a and so on...



Oil             as of this moment is trading between the 50 and 61.8% retracement level... if price does not move higher then we can move lower...
waleedkhan
2 years ago
almost there! :)
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khurram.ahmed.29 waleedkhan
2 years ago
well done sir good work where is rite entry point i just wait to buy crude oil please help me dear
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waleedkhan khurram.ahmed.29
2 years ago
wait for support areas and analyse volume and price action reversal candles
+1 Reply
khurram.ahmed.29 waleedkhan
2 years ago
thank you sir i'm waiting for your valuable advice for next long buy crude oil :)
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waleedkhan khurram.ahmed.29
2 years ago
One of the targets have already hit...volume has built up too; plus oscillators are in oversold territory. Furthermore on the daily chart this area does act as support... so it is possible to see price rebound from here... but I wouldn't buy here; i'll be more interested to short it on spikes for the time being; until I am not convinced that the trend is changed...

Please trade using your own judgement and at your own risk! :)
+1 Reply
khurram.ahmed.29 waleedkhan
2 years ago
thank you sir i appreciated your good work please keep it up your good analysis provide us confidence and help as well and you absolutely rite dear look at four year charts crude oil never broke main support line and this support is at 95 to 96 area oil price's increase year by year and also look at RSI macd plus oscillators all in over sold territory if i'm wrong than please correct me after all your are the best :)
+1 Reply
Nice call!
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