• 2 hours The Survival Of A $2.7 Trillion Market Rests On This Tiny Niche
  • 18 hours U.S. Moves To Bar Iranians From Investor Visas
  • 2 days Why Germany Is Going To War With Gold
  • 3 days Gold Is Still Cheap Compared To Stocks
  • 4 days Are Cryptocurrencies Funding Terrorism?
  • 4 days Promising Oil Companies To Watch In 2020
  • 5 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 5 days Tesla Stock Continues To Soar
  • 6 days What New Economic Data Reveals About Gold's Trajectory
  • 7 days The Lucrative New Tech Hijacking Your Privacy
  • 7 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 8 days Trade War Takes Its Toll On Shipping
  • 10 days Is $90 Oil Possible? An Interview With Jay Park
  • 11 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 11 days Is This The Most Important Energy Project Of 2020?
  • 12 days Startups Are Dying To Give You A Better Death
  • 12 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 13 days The Banking Bonanza Is Just Getting Started
  • 13 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 14 days Who Is The Most Dangerous Person On The Internet?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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_F) Short Term Elliott Wave is Looking for More Pullback

Short term Elliott Wave structure suggests cycle from 6/9 peak remains alive as a double three where wave W ended at 45.83 and bounce to 50.54 ended wave X. Wave Y lower is in progress with the internal as a double three where wave ((w)) ended at 45.83 and wave ((x)) bounce ended at 50. Near term focus is now on 47.34 - 47.71 area to complete wave w, then Oil should bounce in wave x before turning lower again. While oil stays below 50 and more importantly as far as wave X pivot at 50.54 stays intact, expect Oil to extend lower towards 43.3 - 44.75 area to end cycle from 6/9 peak. We don't like selling the proposed push lower.

Crude Oil Short-Term Elliott Wave Analysis Chart
Larger Image

 


At EWF we offer 24 hour coverage of 50 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer.

 

Back to homepage

Leave a comment

Leave a comment