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. I currently have 2 counts that I’m following in regards to Crude, the first one above (Read only […]
It look like Crude has just completed a Ending Diagonal and also broken the upper trendline. If this is an Ending Diagonal then we can expect Crude to make new highs from here on. SL : Below 46.40 Target : Last Swing high It looks like a good long […]
After completing Wave 3, it seems that Crude Oil is stuck in a sideways movement as of now which looks most likely as a Triangle. A break above 48.35 or 49.93 would say that things are otherwise. Overall I expect one leg up after the completion of this pattern […]
Previously I was considering that the up move in WTI Crude from 42 levels as a Wave 4 and that we still had a leg down remaining, however it clearly was not the case as that count was invalidated today. The count published in this post is the most likely […]
Following on with the Bearish Count it looks like we WTI Crude is still continuing down with the Wave 3 (Circled). It looks like the lower trendline will be broken as this Wave 3 down continues. You should read this report to get a better understanding of what might be […]
As of now I’m considering the Bearish count in Crude Oil as it seems to be the one being followed. It seems that we are moving up to complete the circled Wave 4 around the 45.70 level and then down for the 5th, it is possible that I might have […]
Crude Oil possible case scenarios (Elliott Wave Analysis) It looks like that from the white marked box we are seeing a 5 legged down movement, currently I have 2 counts for this situation, Black and Red, both counts are quite probable, my bias is slightly towards the red count that […]
As such the situation in Crude Oil has been quite complex and I believe that this is a wait and watch situation as of now. I have a bullish as well as a bearish count and it remains to be seen that which count will play out. Learn […]
This bearish count seems very less likely to play out however is still a possibility and hence should be considered as an Alternate Count. Click here to check the last post to see the main count. Learn to trade using Elliott Wave Principles – My Video Course To receive these […]
It seems that Crude is in the last stages of what I see as an Expanding Ending Diagonal . I will wait for confirmation however as this market has already fallen below the 61.8% mark of the previous up swing. 45.47 is key support level. I will update […]
Crude looks to have formed a reversal right at the crucial support level of 46.90, if this support level is held then this is most likely an Ending Diagonal in Wave C. If things go as expected this market will see levels above 51.95 in the upcoming sessions. I will […]
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 […]
