USOIL : Bearish. First target likely to be 50$

Nov 1, 2018

Hi guys,

Im Simon, amator TA in crypto sphere. Some call me seasoned expert. Anyway, Im exporting what Ive learn from Elliot Wave Theory to other market than cryptocurrency. I did some training on DJI with successful streaks of calls. See here :

Otherwise, im 99% TA in crypto.
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I project USOIL to retrace to 50$ on the mid term since weekly has bearish divergence.

Monthly is the ugliest, horrific of all time frame with monstruous imminent bearish MACD-signal crossover with plently of space on RSI to give a good retracement that underline a continuation of the bearish trend with a sustained contracting histogram with a LH and LL in bonus (WXYXZ) :



I do not read any news about oil price fundamentals or do not hold any stocks of USOIL. My goal here is simply give my factual perspective via my knowledge of Elliot Wave Theory

Nov 22, 2018

Trade active

first target (50$) almost reached

Dec 13, 2018

Trade closed: target reached

perfect target reached. called 50. ended at 49.75 :



Lets go to next target

Dec 13, 2018

Note

Y can be 20$ too

Dec 13, 2018

Note

Normally Z is a LL but can be a HL :

Jan 14, 2019

Trade active

we are seeing the bounce for (X)

Jan 24, 2019

Trade active

still valid. i expect the bounce to not go above 58$

Feb 29, 2020

Trade active

a 2 years projection and still accurate

Mar 18, 2020

Trade closed: target reached

Nov. 1 2018 target reached