Short

Crude Oil and Natural Gas - Bearish Reversals

Updated

Crude Oil (WTI) & Natural Gas have been in an uptrend.

Reversal Patterns are present, and BIG bearish moves are around the corner.

Technical Analysis:

- WTI: Ascending Channel Breach
- Natural Gas: Ending Diagonal

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Note

WTI can drop hard here.

Trade active

Selling Crude Oil. Expecting a BIG drop...

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Last rise and then Crash for Energy.

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Updated Wave Count for WTI.

Triple Three.

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Natural Gas went deep in the green with this view.
OIL should follow soon.

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Natural Gas hit the 88.6% Fibonacci Retracement.
However, there's no Bullish Divergence, unless you're into a Reversed one...

Crude Oil however, is one step behind, it has still to deliver the BIG drop...

I think there could still be more down-side to NATGAS.

For WTI, I am expecting a big bear leg between $85 and $90 zone.

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WTI Daily Chart:

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Expecting WTI to crash at or slightly above the $80 mark.

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Bounce incoming for Natural Gas.

Trade active

Looks like Natural Gas will bounce from around here, while Crude Oil is getting ready to drop quite hard.

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Selling WTI

Lionheart-EWA

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