• 1,230 days Will The ECB Continue To Hike Rates?
  • 1,230 days Forbes: Aramco Remains Largest Company In The Middle East
  • 1,232 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,632 days Could Crypto Overtake Traditional Investment?
  • 1,636 days Americans Still Quitting Jobs At Record Pace
  • 1,638 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,641 days Is The Dollar Too Strong?
  • 1,642 days Big Tech Disappoints Investors on Earnings Calls
  • 1,643 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,644 days China Is Quietly Trying To Distance Itself From Russia
  • 1,645 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,649 days Crypto Investors Won Big In 2021
  • 1,649 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,650 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,652 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,652 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,656 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,656 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,656 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,659 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

OIL Looks Bullish: Elliott Wave Analysis

Crude oil reversed to the upside in this week from 95.20, just few points away from our projected levels. Price is now trading close to recent swing high so it seems that short-term waves are already heading higher up in wave C towards 99-100 area. We are also tracking an alternate scenario with wave (iii) in action of wave A, but in either case market stays in bullish mode for few more sessions as long as 95.20 holds.

OIL 4h Elliott Wave Analysis

Crude Oil 4-Hour Chart


OIL 1h

We are turned bullish recently on crude oil and based on recent three legs down and bounce from the channel support line we see room for a push above 98 and towards $99, while 96.30 support holds.

OIL 1h Elliott Wave Analysis

Crude Oil 1-Hour Elliott Wave Analysis Chart

 


Written by www.ew-forecast.com
Try 14 days trial just for €1 >> www.ew-forecast.com/register

 

Back to homepage

Leave a comment

Leave a comment