Elliot wave analysis on oil (2015-06-24)
Oil is clear from Elliot wave atm. It is still inside the triangle. From EW, triangle is either wave B or wave 4. Here is clearly wave B. And it already finished abcde minor wave of wave B. We should see a 5 wave down to complete wave C.
The first target is 59.8 (the bottom of the triangle);
The second target is 58 (the support area of wave 4);
The third target is 56 (the bottom of wave 4);
Notes: If 62.55 is broken, this EW will be invalid.
Good luck everyone!
The first target is 59.8 (the bottom of the triangle);
The second target is 58 (the support area of wave 4);
The third target is 56 (the bottom of wave 4);
Notes: If 62.55 is broken, this EW will be invalid.
Good luck everyone!
Related publications
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.