NickCoulby
Short

Is Oil still 25% away from a near term bottom?

FX:USOIL   Crude Oil (WTI)
470 6 7
Both the 19 week and 16 day mode projections sync in time/price. Friday's close is a sell signal, but if no range expansion in the next bar I would be weary.
Looks like a running triangle in both price/CCI.. could see a little spurt back up to the mode before the wheels come off
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IvanLabrie PRO NickCoulby
Certainly acting like one...technically, a triangle can end a terminal's last leg. (all corrective things)
There's a weekly trend that expired as well, so it's conflicting.
USDCAD looks to be reflecting said confusion but mostly aims down.
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NickCoulby PRO IvanLabrie
Yea the 12W that was surpassed.. I left it off so it wouldn't clutter
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NickCoulby PRO IvanLabrie
This outlook certainly makes SPY's bursting leg last week look more like a C of a flat than the conclusion to a fifth wave truncated terminal zzz
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IvanLabrie PRO NickCoulby
Looks like more down on S&P500, in general.
+1 Reply
IvanLabrie PRO IvanLabrie
snapshot
+1 Reply
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