Has anyone notice this long bullish candle today. I swear it wasn't there this morning.
Anyway, I was analyzing weekly oil , it broke weekly channel to the downside, came back to touch the bottom side of the channel. This looks like an Elliott wave third wave forming. The Fibonacci 1.382 sits perfectly at the low of about $25. Honestly, that's where the technicals are pointing in my analysis, but how and why would oil go there in the up coming months, I do not know(believe) I'm going with it until proven otherwise.
Anyway, I was analyzing weekly oil , it broke weekly channel to the downside, came back to touch the bottom side of the channel. This looks like an Elliott wave third wave forming. The Fibonacci 1.382 sits perfectly at the low of about $25. Honestly, that's where the technicals are pointing in my analysis, but how and why would oil go there in the up coming months, I do not know(believe) I'm going with it until proven otherwise.
Note
told ya !!!
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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.