• 20 hours The Ultra-Wealthy Lost $140 Billion In One Day
  • 1 day Three Energy Casualties In The Coronavirus Crisis
  • 2 days Markets Crumble As Coronavirus Panic Peaks
  • 2 days Cobalt May Be The Key To Clean Hydrogen Fuel
  • 4 days How Taxpayers Are Bankrolling The EV Revolution
  • 5 days The Coronavirus Is Crushing China’s Car Market
  • 6 days Fighting For Survival In The Streaming War
  • 7 days Want A Job? Forget About A Bachelor’s Degree
  • 7 days Another Major Car Maker Is Backing Hydrogen
  • 8 days Are Americans Finally Sold On Soccer?
  • 8 days Is The Tech Bubble About To Burst?
  • 9 days Coronavirus Could Cost Tourism Industry $80 Billion
  • 9 days What Web Traffic Trends Can Tell Us About The World
  • 9 days Miners Face Greater Headwinds
  • 10 days Boris Johnson Proposes Billion Dollar Bridge To Northern Ireland
  • 11 days Goldman Slashes Oil Price Forecast By $10
  • 12 days Tesla Raises $2 Billion In Share Selloff
  • 13 days What The T-Mobile Takeover Of Sprint Really Means For Markets
  • 13 days The U.S. Has Charged Huawei With Racketeering And Conspiracy
  • 13 days How Hydrogen Could Become The Fuel Of The Future
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…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

Oil (CL) Short-Term Elliott Wave Analysis

Rally to 49.5 ended wave 4. From this level, the internal of wave 5 of (3) lower is unfolding in 5 waves where wave ((i)) ended at 45.08, wave ((ii)) ended at 46.71, wave ((iii)) ended at 41.35, wave ((iv)) ended at 42.9, and wave ((v)) is in progress to complete wave (3) before a larger bounce in wave (4).

Near term, wave (a) has ended at 40.21, wave (b) ended at 41.47, and pair has resumed lower towards 37.52 - 38.57 to complete wave (3). Cycle is currently pretty stretched and we can already count 5 waves lower from wave 4 high at 49.5, but as far as wave ((iv)) pivot at 42.9 is intact, expect oil to resume lower one more swing to complete wave (3) towards 37.52 - 38.57 before a larger pullback in wave (4) is seen.

Oil Short-Term Elliott Wave Analysis
Larger Image


 

If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 

Back to homepage

Leave a comment

Leave a comment