Crude Oil a very low risk shorting opportunity (Elliott Wave Analysis) 22nd December 2017


Crude Oil so far is moving as projected in my last video report.

Below I have discussed more possible scenarios with a detailed look at the 4 hour and 1 hour charts.

Crude Oil Hypo 1, 22nd December 2017 onwards

Crude Oil Hypo 1, 22nd December 2017

I currently have 2 counts that I’m following in regards to Crude, the first one above (Read 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.

Crude Oil Hypo 2, 22nd December 2017

Crude Oil Hypo 2, 22nd December 2017

As per both of these counts the Invalidation Level is coming around 58.56, which means that a move above that level would mean the Invalidation of both of these Hypos.
Given the above counts and the current price of Crude being around 58.19 we have a very low risk shorting opportunity over here which can take prices down to even the 55.25 levels.

Even if we consider the Bullish scenario, that is Hypo 3 (Yellow Count) given below in which I have taken Wave A of the Triangle as a Double Zig Zag, even then we come to the same conclusion that we must see Crude heading lower to atleast 56.95 levels for Wave E completion, this in terms presents us with a very Low Risk and Very High Probability short setup.

Crude Oil Elliott Wave Hypo 3

Crude Oil Elliott Wave Hypo 3

 

Let’s see how this market progresses.

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