Elliott wave analysis on usoil (2016-08-19)
Updated
Oil might be in wave 4 correction now. Because wave 2 is a sharp correction, wave 4 is more likely a consolidation. No need to trade this wave.
The target of this correction might go to 46.9 (largest it can go and it might not touch) which is a good position I will join the long again.
Wait patiently for the correction to finish and join the bull trend again. For mid-long term please refer to this chart.
Good luck for everyone!
The target of this correction might go to 46.9 (largest it can go and it might not touch) which is a good position I will join the long again.
Wait patiently for the correction to finish and join the bull trend again. For mid-long term please refer to this chart.
Good luck for everyone!
Note
The momentum of bear is much larger than I expected. USOIL might undergo a deep correction. Be patient.Trade active
Nice rally. I went long with SL at 46.5.Note
It got supported from the rising channel. Note
Bearish EIA data. I closed the position.
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