glennmercer
Short

OIL Road Map: We've Entered a PRZ

TVC:USOIL   WTI Crude Oil
Hey traders! Oil             has entered the next watch level after an extended corrective bull wave. An alternate bat is complete at the 1.13 projection of the (W)/(X) wave. I expect some resistance at these levels. The short target is our unhit pivots . I expect further drop twoard low 40's after that to complete (Z). More updates as the tide rolls. Happy trading!
Comment: Hey traders! Today we witnessed what could possibly be the first sign of breakdown back into the mid 40's. The count suggests one more pop before the drop, but the final wave will tell us more information. I will sell this rally if/when it occurs. Cheers

snapshot
Thanks for this idea !!
Enter now looks good, what do you think ? Are you still bearish ?
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Thanks Glenn...Any thoughts on silver in the reversal zone ???
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Piptamil, yes lots of thoughts. I will publish more on commodities this weekend. Cheers
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piptamil glennmercer
Thanks Glenn...
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So stil in play ?`
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glennmercer PRO JorgenValentin
Jorgen, yes still valid best count. Will publish more this weekend on OIL. Cheers
+1 Reply
thanks sir . sir your earlier count is cancell . pl confirm sir
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glennmercer PRO waverider01
Wave rider, yes this recent bullish rally is not a typical third of a third wave. I will publish a chart to explain why this is the new best count. As new waves reveal themselves, it is important to consider all possibilities and trade based on the preferred count. More to come
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sanjayplayer glennmercer
will always welcome your chart and detailed analysis
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your analysis are always wonderful and very interesting. master of elliott wave
+1 Reply
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