Thanks for viewing. Just a super quick update.
Some retracement upwards starting this week, maybe not as much a 0.5, maybe more before starting wave C down.
Wave (1) extreme (if it is wave (1)) is $55.18, so any drop below this price will invalidate the count - unless it is just by a wick.
Wave (5) target still $89+
The current progression being sideways and overlapping seems to be a Triangle formation with the current progression being in the Wave (d) of the same.
If this is the count market is following then once we have the Wave (e) complete to the upside we can expect down move for Wave .v which can take the same to
Targets : T1 : 65.94
T2 : 64.09
with SL :...
Crude currently seems to be in the ending stages of the first Impulse down from 72.87 level.
This Impulse down was sharp as is expected after an Ending Diagonal is formed, from what is visible now we can complete this leg down near 64 or 63.30 level and from there form atleast a 3 legged correction to the upside for Wave 2 or Wave B which can take Crude possibly...
Crude has been continuously in uptrend since June 2017. Now It has reached 50% retracement level of Monthly Fibonacci. as well as Crude has taken resistance from the April 2017 Trend line. So today If today or this week Crude closes below 70.50 it will be bearish signal and good sell opportunity for us. So my view is bearish for Target of 66-61 in upcoming 2-3...
Crude arrived at the resistance level, where price broke down 2018-02-07.
We know that if price is missing the L-MLH, we have a Hagopian cooking according to the ForkTrading BLUEPRINT rules.
If this is the case, then a move below the yellow circled low point is very possible, ending this Pendulum up-swing on a higher timescale basis.
Don't miss your Free...
Crude has now taken the low of W.W out which means that we have possible W.Y in progress of W.B of Triangle of W.X, in either case expect sideways to bearish movement here, also a pullback from near the current market level is quite likely as we are at channel support level and W.W =W.Y 1:1 equality, if this market completes the W.Y at this level then expect a...
I currently have 2 counts that I'm following in regards to Crude, the first one above (Red only the Red labels) is taking the current Wave iv progression as a Triangle and the other one down below is taking W.iv as a Complex Correction.
As per both of these counts the Invalidation Level is coming around 58.56, which means...
Long term downtrend
Current correction should end before level of 60$ per barrel.
If we saw price above 60$ it could test higher prices but only for short term.
Price in long term should go down, below level of 50$ per barrel in next 6 months maximum.
US OIL* NYMEX:CL1! has formed the major bearish Wolfewave.
RSI Divergence on Daily/H4/H1 along with consequently lowering volume may signify the upcoming trend change:
With the SL slightly above the recent peak and potential TPs laying much lower, the risk/profit ratio makes this sell quite an attractive...
Crude Oil has been in counter uptrend since june 21st 2017 and will reach a strong supply zone around $50 to $52. I am expecting a reversal from there in 1-2 weeks from today.
After the market opens on monday, the crude oil is expected to trade above $47.70 for a few days till it come closer to $50. As it comes closer to $50 expect sellers to step in, and slowly...
Following on with the Bearish Count it looks like we are still continuing down with the Wave 3 (Circled).
It looks like the lower trendline will be broken as this Wave 3 down continues.
I will update further as this market progresses.