zhipengcfel
Short

Elliot wave analysis on oil (2015-06-24)

FX:USOIL   Crude Oil (WTI)
Oil             is clear from Elliot wave atm. It is still inside the triangle. From EW, triangle is either wave B or wave 4. Here is clearly wave B. And it already finished abcde minor wave of wave B. We should see a 5 wave down to complete wave C.

The first target is 59.8 (the bottom of the triangle);
The second target is 58 (the support area of wave 4);
The third target is 56 (the bottom of wave 4);

Notes: If 62.55 is broken, this EW will be invalid.

Good luck everyone!
Target1 was achieved. Now it is in the retrace of wave 2. It might retrace to the middle of the triangle.
+1 Reply
Target 2 achieved!
+2 Reply
Target 3 achieved! It is on the way to 54.7. Good luck!
+2 Reply
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