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Light Crude Oil Futures
Short
Updated

Monthly Wave Count for Crude Oil (extended count)

479
Some countries (i.e Malaysia) are making a smart move by pegging the retail oil price when crude oil was at around peak of wave 4 of C. That will bring extra revenue for the country at times of turbulence (but at the expense of the people).
Note
Sorry for not updating about the alternate bullish count for Crude Oil earlier. I'll update on the new count only if price breaks 72.83 because 72.84 is the invalidation point. However, price might also retrace a bit before breaking 72.83.
Note
Invalidation point HIT! I'll reassess my count soon.
Note
snapshot The current rally might be wave 5 of C of 4. The ultimate invalidation of this bearish count is when price break above 74.95. As for now, there's no confirmation yet.
TheDemonTrader
Crude OilcrudeoilwtiElliott WaveFibonacci

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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.
Crude OilcrudeoilwtiElliott WaveFibonacci
TheDemonTrader

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.