chessnut

USOIL EW analsis - primary wave set for an upside rally

FX:USOIL   Crude Oil (WTI)
193 0 0
US Oil             has been trending down for a number of months and is prepared for a fair correction of the down trend. I picked the bottom when I spotted a tell tale EW pattern the Ending Diagonal , see below. After USOIL             rallied impulsively to around $53 it corrected the rally non impulsively. This can therefore be considered either a primary wave, or a wave A of a larger correction. One can expect even in a bearish case a rally to around $60-$70 per barrel from this level.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out