WTI: Bears Are Outnumbering Bulls
Updated
WTI has been forming a flat A-B-C correction.
According to Elliott's wave projection, the oil future looks bearish.
Oil Future has accomplished wave A at 193.17, and sub-wave (c) of wave ((B)) is creating an ending diagonal.
The ending diagonal is a formation of five waves. WTI is to occur in wave 5 of an ending diagonal.
If you are a safe trader, you can trade after the breakdown of wave 4 at 110. Your target will be 105-99-93.
Aggressive traders can sell when the price falls below 119.
If it goes above the parallel channel, wait for levels to appear.
Thank you
Money_Dictators
According to Elliott's wave projection, the oil future looks bearish.
Oil Future has accomplished wave A at 193.17, and sub-wave (c) of wave ((B)) is creating an ending diagonal.
The ending diagonal is a formation of five waves. WTI is to occur in wave 5 of an ending diagonal.
If you are a safe trader, you can trade after the breakdown of wave 4 at 110. Your target will be 105-99-93.
Aggressive traders can sell when the price falls below 119.
If it goes above the parallel channel, wait for levels to appear.
Thank you
Money_Dictators
Trade closed: target reached
Target ReachedComment
I am back with my work :)
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