Crude update, more lows ahead

FX:USOIL   CFDs on Crude Oil (WTI)
2186 6 14
Hi All,

One thing that always scares me in wave analysis is when you think that "it goes exactly as planned". Because the moment you think that, the market almost always pulls a really unexpected twist. Yet, this is exactly the thought I have when I look at Crude. So, be warned.

Crude is still going down, and it will probably take another week or two for it to find a bottom. We are completing an ending wedge , running wave 2 in C in 5. Still waves 3-4-5 to go in C, possibly reaching 28-30 range, which I guess will happen together with SPX             bottoming at 1730 or 1600.

So, no reversal yet, more lows ahead. This means that the current trend persists in USDCAD             (target 1.41+) and USDRUB             (75+). DXY             is also going higher in subwave 5, so no reason here for commodity reversal yet. So all in all we'll be done somewhat after Christmas I guess. The revesal will be fast, as it usually is, once the ending wedge is complete.
Andy oil just hit 38.10 deviating from your wave count. Has the wave count or directions changed and if so can you update as it currently not following your chart or count.
There is what it looks like 3 white soldiers candle sticks which is very bullish sign with exception of third candle being somewhat weak. Any clarification on oil?
Thank you sir.
This is what happens when you so bearish, a possible trend change...
AndyM nbn007
there is no trend change.
+1 Reply
this doesnt tell anything properly. the lines on the chart is just to make this case bearish. none of the technical lines meaningful. Looks like author gave this chart to his kids and they randomly draw some lines on chart and big papa posted here.
is it the rocket?
It's going to be a Falcon Heavy!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out