Pranav_Shandilya
Short

STRONG BEARISH SIGNAL IN CRUDE OIL

FX:USOIL   Crude Oil (WTI)
Although the market seems to be "holding on", it should not be mistaken for a wave 2. I strongly feel that a deeper correction is still due. We will see the prices go lower and then take support at fib levels. The reasons have been mentioned on the chart. If you still feel bullish about the oil             prices, I would ask you to wait and see how it might react before you jump into long trades. Wait till volatility increases and it starts trading out of channels and diagonals. Wishing you the best of luck.

Trade well :)
dimi1977
a year ago
You are crazy. This forecast has no ground ....demand is increasing and global economy is in recovery.
Reply
Pranav_Shandilya dimi1977
a year ago
Wow. Strong words. Dear BullTradeDS, the markets usually move because of human psychology, not fundamentals alone. In the Long term, I do expect prices to go up. But I expect a correction now.
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Pranav_Shandilya dimi1977
a year ago
What was it that you said?
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zhipengcfel
a year ago
I did the same analysis yesterday.
Elliot wave analysis on oil (2015-06-24)
+1 Reply
Pranav_Shandilya zhipengcfel
a year ago
Let's wait and watch.
Reply
smitheric1970 PRO Pranav_Shandilya
a year ago
Agreed
snapshot
+1 Reply
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