Thesis: US Government will not allow oil to rise further. FED already shamed by inflation making fool of them after destroying market ~20% only to see it recover with rising inflation and falling interest rates. Bond market still bear-flattening further.
Elliot wave pattern: USOIL appears to have fallen first through an ABC pattern and now traded into a bearish flat (i - iv) pattern. The pattern is a well structured channel with parallel lines.
Contra-Thesis question: is there any indication of reversal from this pattern? Answer in comments. THANKS.
Elliot wave pattern: USOIL appears to have fallen first through an ABC pattern and now traded into a bearish flat (i - iv) pattern. The pattern is a well structured channel with parallel lines.
Contra-Thesis question: is there any indication of reversal from this pattern? Answer in comments. THANKS.