zhipengcfel

Support and resistance levels for usoil (2016-07-31)

NYMEX:CL1!   Light Crude Oil Futures
USOIL             might rebound from here because it is coming to a potential reverse zone and bottom of the potential rising channel .
Where will oil go from the view of harmonic pattern?
Pay attention to the resistance at 42.58 and 43.24. If they are broken, it will go up to 44             .5 which is a very important resistance level on weekly chart.
If oil             rejects back from these resistances with high volume and breaks down the rising channel , it has probability going down to 38.5.
I hold the idea it will rebound next week. As to the trading advice for next week, please refer to 4h chart below.
Elliott wave analysis on usoil (2016-07-30)

Good luck for everyone!
Comment: Oil might go to bottom of the weekly decline channel.
snapshot
sir i have labelleing wave count on daily chart if you give me opertunity to show you i will be very glad. so requied your email id if you allow
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zhipengcfel prasanro
You can also publish it here via link of tradingview.
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