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Crudeoilwti

Crude Oil - Internals of Wave 3 DownIf Crude Oil does drop after reach 4890 I have plotted the internals of wave 3 down: Pink Waves: A. Wave 1 0.382 of C B. Wave 2 0.5 of wave 1 C. Wave 3 2.618 of wave 1 D. Wave 4 0.382 of wave 3 E. Wave 5 1.618 of wave 4 Green Waves: A. Wave 2 0.5 of wave 1 B. Wave 3 2.618 of wave 1 C. Wave 4 0.382 of wave 3 D. Wave 5 1.618 of wave 4 The larger wave 3 (red waves) was projected from the larger wave 1 in my previous chart to end around 4404 and these internal waves point to 4398
TVC:USOILShort
by Joseph_King
Crude Still Heading SouthCrude spiked on Friday due to an impulsive C wave (in my opinion) from 4647 toward 4890 (0.618 retrace of 5041/4647) on its way to complete wave 2 down. Waves 3, 4 & 5 have been plotted using 1.618 of wave 1 for wave 3, 0.382 of wave 3 for wave 4 and 1.618 of wave 4 for wave 5. No consideration for wave extensions to 3 & 5, so price could go much lower than plotted if extensions to 2.618 occur. It should be noted that wave 2 down can reach as high as 5041 and still be valid for Elliot Wave rules so plenty of upside left potentially (the internal wave 2 of wave 1 hit 5021, way beyond 0.618 of wave 1 at 5041). Holding short positions from 4835-4850 with SL 4897.
TVC:USOILShort
by Joseph_King
2
Crude oil coming closer to Strong supply zonesCrude Oil has been in counter uptrend since june 21st 2017 and will reach a strong supply zone around $50 to $52. I am expecting a reversal from there in 1-2 weeks from today. After the market opens on monday, the crude oil is expected to trade above $47.70 for a few days till it come closer to $50. As it comes closer to $50 expect sellers to step in, and slowly supply will exceed the demand. And as supply get stronger from $50 to $52 a reversal of trend is expected.
TVC:USOILShort
by SunnyPawar
4