AndyM
Short

Still long way to go down in Crude

FX:USOIL   CFDs on Crude Oil (WTI)
1181 9 13
Hi Folks,
Just a quick update on Crude: we are not done falling yet. By far.
Ending diagonals may well break and significantly overshoot the channel, so this is exactly what we observe in Crude these days. Waves 1-2-3-4 done, wave 5 incomplete, even A in 5 is incomplete.
So expect much more weakness in Crude and associated currencies over the course of this and next week - and we'll see what happens with Fed on the 16th and options expiry on the 18th - may be those will reverse the trend.
Hi Andy, In Ending Diagonal, wave 1 > 3 > 5 and in your version 1 < 3 and 3 < 5
Reply
AndyM EvgenK
This is not true. in EDs w5 sometimes can overshoot the rest by a significant margin.
Reply
EvgenK AndyM
Yes! Significant margins !!! But not price! can't be more then 100% of wave 3, and wave 3 can't be more then 100% of wave 1
Reply
I really like your chart Andy. It looks as if we hit b wave at 37.91 yesterday and we are about to go into c after fed meeting perhaps. Nice job!
Reply
saudi's just said that they will keep pumping oil to increse the current oil glut
Reply
link???
Reply
Agree with the downside.
Reply
smitheric1970 smitheric1970
I believe 38-40 will hold as resistance prior to further downside, below 32.
Reply
LetsBeMillionaire smitheric1970
i would say wait till FED meeting finishes. I would wait till Wed before taking any major step. This might be very good opp for long as well. Have seen many technical analysis but all doesnt follow all the time.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out