Crude still having a gap in USOIL (the chart) to close.
Timecycle suggest primo february for break of neckline and for the S-H-S to pan out. We are neutral after today's sell off and see a bounce here. Next trade will be at break of neckline.
More free charts on WALLStScalper.com/Blog including chart of todays breakdown in SP500
May be one more bounce to near 53.50-53.65 range after that free fall to 51.20 range
CoinedByCrypto
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@RajaswaminathanRathinam, If you look at the chart through Elliott wave optic then I do agree that another bounce could be in spe.
There is a narrow margin price though that price can move within before a very bearish move sets in that could bring the price back
to a test of a double bottom. Price does not give us a certain clue yet..... but will soon be revealed.