Get started
CFDs on Crude Oil (WTI)
Short

Flat correction until June 13th

By zhipengcfel
Updated
Oil is in a flat correction currently (335 pattern likely). Compare with the sharp wave 2 correction, this flat correction will most probably continue to June 13th or longer. Let's see how alternation rule play!

Montly chart Elliott Wave:
Elliott wave analysis on oil in month chart

Oil month chart elliot wave analysis (2016-01-21)


Good luck for everyone!

Note
Updated elliott wave counts and correction wave time target until June 27th.
snapshot
Note
The potential reverse zone is around 50.5~51.5 from harmonic pattern analysis. I will short at this zone.
snapshot
Note
Price was rejected back from the upper border of wedge.
snapshot
Trade closed: target reached
analysisElliott WaveGannGann FanCrude Oil WTI
zhipengcfel

Related publications

Disclaimer

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.