Expecting drop in Crude Oil (Elliott Wave Analysis)
Updated
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 about later on.
From a positional perspective this market is a buy on dips as I believe much more upside remains, positional traders should wait for the 3 Wave completion and then add on to there longs.
I will update further as this market progresses.
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 about later on.
From a positional perspective this market is a buy on dips as I believe much more upside remains, positional traders should wait for the 3 Wave completion and then add on to there longs.
I will update further as this market progresses.
Note
T1 achievedNote
T2 achievedNote
Went till the 4 th Wave of one lesser degree, exceeding all targets as expected.Closed.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.