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Crudeoilwti

Crudeoilwti

Crude Oil Elliot Wave Idea Little update to previous idea. Looks like we're in wave C of an ABC thats part of D of the ABCDE triangle. May hit 583X today which is 1.618 of B wave and the top of the triangle. Then possibly E to .236 of wave 3 (4910-5903) to 566X. I'm thinking that the triangle will break out to the upside to 60+, 1.618 of wave 4

Crude Oil 2018 Forecast in comparison to Previous US Recessions Crude Oil is testing the resistance line and looking to make a shot upwards on the weekly. We are also seeing some potential bullish RSI signals indicating a push to the upside with a peak hitting around 130-145 USD and 72-73 on the RSI We may also enter a recession as a result of a giant parabolic spike in Oil prices as insider traders enter short positions above $128-130.

Long

Crude Oil Elliot Wave Idea Possibly in wave 4 (ABCDE triangle) that may end at .236 of wave 3 at 5667 and meet the major trendline before breakout for wave 5 to 1.618 or 2.618 of wave 4

US Oil - Re-test Of Support To Provide Long Opportunity A late break last week above the 56.83 area hints at further advances next week. A pullback and re-test of this area will provide a great place to start to look for Bullish patterns for longs towards 58.79.

Long

Crude Oil Elliot Wave Idea Expected .5 or .618 retrace for wave 2 in this idea > However, looks like just .382 was enough for some traders. Possibly in wave 3 now within a channel after exiting inverse head and shoulder neckline. Potential to reach 5940-6020 overall if this is 5 waves up. Currently holding longs from 5705.

Long

Crude Oil Elliot Wave Idea Previously theorised an ABC to low 55's but the correction could be over. Looks like on a smaller timeframe that crude is in wave B (ABCDE triangle) before heading down for wave C for 1 0.5 or 0.618 correction overall...possible a wave 3 starts after that heading towards 59 area.

Short on the retest and a flip long after.Classic head and shoulders pattern, and I do not think the pattern will work. If price bounces at the first target then the pattern is invalidated and if it reaches the second point on the bottom watch for a trap for shorts to get in for your long.

Short

US CRUDE OIL - H4 SELL SETUP US crude oil - H4 chart - I prefer shorts due to bearish structure on H4 time frame. Main trend is still bullish so this is a reversal setup on daily time frame but with-trend pull back setup on H4 so quick swing with great risk to reward.

Short

Crude Oil Elliot Wave Idea In ABC now it appears toward 55

Crude Oil Elliot Wave Idea (Smaller TF)Looking at smaller timeframe.

US Oil - Holding Of Support Hints Further Advances After failing to hold above 58.79 price came back to test and hold support at 56.83. Longs seen as the higher probability move with a break of 59.79 clearing the way for 61.74.

Long

Crude Oil Elliot Wave Idea An update to this idea > Possibly complete wave 5 of 5 of 3 around 5960 before .382 correction to 5565 before up to 62.

Crude Oil Elliot Wave Idea Possibly already completed wave 1 from yesterdays bottom and now in the correction of that wave 1. Could be in wave 4 of C now to .382 of wave 3 of C to 5773, before wave 5 of C to 1.618 of wave 4 of C to 5754. Wave 3 up next (not plotted those waves yet). Long at 5745 and 5788.

Long

Crude Oil Elliot Wave Idea May have completed wave 4, possibly wave 5 next to 5995. Looks bearish but the 4H candle has served bulls well recently. Long from 5773, 5798 and 5830.

Long

US Oil - Bulls In Control Last week Oil performed well breaking above the target and key resistance area of 58.79. This week we would like to see consolidation above this broken resistance now support, with a view for further advances towards 61.74.

Long

Crude Oil - Back to $26? :)Just an idea, some similarities in the patterns and the fib levels seem to work. Wave 5 of C back to $26 before new cycle starts.

Crude Oil Elliot Wave Idea - Bull Theory Update Another alternative count and I prefer this one as if you zoom out on the chart the fibs point to the same level as 1.618 of the larger wave 4. I believe that around 5980 could be a great shorting opportunity for around 400 pips.

Crude Oil Elliot Wave Idea - Bull Theory Update Some minor changes to this theory >

Crude Oil Elliot Wave Idea We've now reached the top of the channel. The larger wave 3 breached the channel so this wave 5 should stay within it. Expecting a retrace from here to .236 (5790) or .382 (5750) before a final push to 59+.

Short

Crude Oil Elliot Wave Idea (Bull Theory)An alternative to wave 4 correction. Some waves plotted to 5892. I guess if yesterdays high is broken then this is possible.

Crude Oil Elliot Wave Idea - Wave 4 Correction Possible wave correction to .382 of wave 3 at 5714

Short

Crude Idea Low probability in my opinion but wave 5 extension to 2.618, doubtful, but would be great :)

Long

Crude Oil Short term Buy on a pullback around 57.58 for a target to 58.85, stop below 56.98

Long

by UmarAbdurRehman

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