crudeoil (Bounce)
1)Price on the Monthly Trend line and previous support line which is 67.694(white line)
2)The price has fallen making a significant lower high(77.579). If we count Elliot from this point, the end of the 3rd wave may be at the lower support line.
For this reason, some points may bounce from here to the above yellow trend line.
There is bullish divergence in the hourly time frame of 4th September low or current low.
2)The price has fallen making a significant lower high(77.579). If we count Elliot from this point, the end of the 3rd wave may be at the lower support line.
For this reason, some points may bounce from here to the above yellow trend line.
There is bullish divergence in the hourly time frame of 4th September low or current low.
Note
this view was incorrect proven by market
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