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Lionheart-EWA
Sep 21, 2022 9:47 AM

Crude Oil - The Sinking Titanic Pattern Short

TVC:USOIL1D
WTI CRUDE OILTVC

Description

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Crude Oil (WTI) has broken through the support trendline.

Things are looking bearish, and I am expecting a major drop in Oil.

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Trade active

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Preferably, a breach in an impulsive bearish move would start.



However, if the C leg of (B) (red) comes, then it will provide a better entry.

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Getting ready for a very big drop on WTI.

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OIL shorters gathering ammo.

Trade active

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Bears chance here to crash WTI.

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Trend LinesElliott WaveOscillatorsTrend Line BreakbreakoutWTICrude OilcrudeoilforecastCommoditieswtitradingoiltradingContains image
Comments
crikz
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Hey buddy, nice analysis! I am watching over the opposite side, expecting a large bullish breakout after this sideways action from Ukraine invasion point in your chart. 160-190 price is expected by the first quarter of 2023
Lionheart-EWA
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@crikz, Hey bro! Thanks. Yes, I am aware of that possibility as well.
Will be watching it closely, it's at break or make zone.
oneyussuf
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what time frame is that please
Lionheart-EWA
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@oneyussuf, It's a Daily Chart.
KABHI_FOREX_TRADING
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Good analysis bro
Lionheart-EWA
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@vishvam-fx, Appreciate your comment, thanks!
SaeedTorfi
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Nice
Lionheart-EWA
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@SaeedTorfi, Thanks! Nice cat LOL
StoneLuv
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Im hearing about and seeing prices going up at the pump which tells me we are at support and are going to reverse to the upside. Target is $90-93. If support is lost then my target is $70-75. Approx. trade duration 2 weeks for either target.
Lionheart-EWA
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@StoneLuv, awesome thinking, it is an important decision, let's see what happens next.
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