Crude Oil is one of my favorite pair because the movement is clear. Trying to predict the price will reject at the resistance level to create lower low. Hope that this overview can help your trading in this pair.
At the moment, OIL is moving between the channel. We are in bearish but still face up in consolidation situation which will bring us lower after break this channel. The fibonacci level 78.6 will be a good opportunity to sell OIL and hopefully it will break the channel and move down further. Let's see how OIL will be going.
Gold price has been broken the trendline, but it seems not going to change the trend to uptrend yet. If the price couldn't break the invalidation level, it will be still bearish and there is a big chance to break the lower low into the next support level. This is my prediction for gold for the next 2-3 weeks ahead. Hope this analysis can be an advantage for you. Thank you.
I am trying to analysis the market using Elliott Wave. Hope my feeling determine the wave is not incorrect. If you have any comment or some different perspective in determining Elliott Wave, please kindly let me know and discuss together. Thank you.