Crude Oil seems to be moving in an 3 Wave corrective structure. Hence I expect it to achieve atleast T1 : 53.30 if further downside is seem then it can drop till T2 : 51.80 Even lower levels uptill 50.80 are possible but that is something we can only talk […]
In this report I have updated the Elliott Wave Count for Crude Oil by changing the position of the circled 5th Wave. As soon as the lower black trendline is broken we will have validation for the placement of the circled 5th and a confirmed signal that the Wave 2 […]
Crude seems to have given a clear 5 Wave up move from the 47 low, it seems that it is in a corrective phase now and is most possibly moving as an Irregular Flat Correction. If it is actually progressing as an Irregular Flat then it is very likely that […]
In the last update on Crude I discussed the possibility that a bottom might be forming, since then the market gave the 5th leg down and now to me it seems like the bottom has formed. I’m already long in this market and the SL is below the recent swing […]
As per the given chart it seems that the correction is complete as the 5 Wave leg down seems to be very precise. Also note the red zone that I have drawn represents the most probable support zone for the fall and the market has taken support just above it. […]
In this article I’m going to do Elliott Wave Analysis of Crude Oil and post my forecast for the same. As of now Crude Oil is trading above the important resistance level of 54.30 and seems to be in the starting leg of a Wave 3 of a lower degree. […]
Previously I was considering that the Wave B/2 was complete where I have placed the vertical line, now I’m taking that as the Secondary Count. The Primary count ( In Blue ) is that the Wave B/2 is still under progression as a Flat correction and that it should see […]
As per this daily chart a 5-3 move is already complete up till the 39 level, now as per the Elliott Wave the progression should be 5-3-5 in both cases.(Case 1 : Impulse, Case 2 : Correction ), hence using the basic Fib. extension the target are- T1 – 64 […]
