Get started
aibek

Crude oil (WTI) to retest 34.34

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
aibek Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Wave Analysis Crude Oil WTI WTI CRUD Oil Crude Oil Futures WTI (CL1!) BRN1! Crude Oil Brent Crude Oil BCOUSD
14
0
waveanalysis usoil wti crud oil cl1! brn1! ukoil usdbro bcousd
The price broke down the double three WXY of (B) corrective structure.
We got the pullback to the broken support.
Watch further break below minor support.
Wave (C) could retest the former valley of 34.34

See related Brent crude for education purpose - the overall structure is the same, but the current corrective structure in wave (B) differs.
Comment:
Update - the structure has changed as price overlapped the former top
We got triple three WXYXZ as on Brent crude.
Break below 39.45 and RSI below 50 is needed to confirm the drop
snapshot
Comment:
Update
The labeling has changed as we got an Ending Diagonal in wave C of (B).
The RSI is moving below 50, we need close there.
The break below 39.83 is needed for confirmation of eliminating the diagonal.
snapshot
Comment:
Zoom in 15 minutes
Price boils between the top and previous low
Support wasn't broken as yet. Let's see
snapshot
Comment:
Update
snapshot

Related Ideas

aibek
Brent Crude Updated Map - Triangle in wave X - watch 41.30
aibek
Brent Crude: Watch Recovery For Another Sell
aibek about UKOIL 3
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.