Thesis: US Government will not allow oil to rise further. FED already shamed by inflation making fool of them after destroying market ~20% only to see it recover with rising inflation and falling interest rates. Bond market still bear-flattening further.
Elliot wave pattern: USOIL appears to have fallen first through an ABC pattern and now traded into a bearish flat (i - iv) pattern. The pattern is a well structured channel with parallel lines.
Contra-Thesis question: is there any indication of reversal from this pattern? Answer in comments. THANKS.
Elliot wave pattern: USOIL appears to have fallen first through an ABC pattern and now traded into a bearish flat (i - iv) pattern. The pattern is a well structured channel with parallel lines.
Contra-Thesis question: is there any indication of reversal from this pattern? Answer in comments. THANKS.
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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.