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Does the uptrend continue?If MPP (S1) functions as a support line, think long. The first limit is 70.00 The second limit is under MPP (P) 70.77 The third limit is under YPP (R2) 72.62 I would be grateful if you like it idea,give me follow or agrees! ------------------------- -------------------------- Brown thick line: Yearly Pivot Points (YPP in the text) Light blue thick line: Monthly Pivot Points (MPP in the text) Green thin line: Weekly Pivot Points (WePP in the text) Indigo thick line: Horizontal line or Trend line seen by weekly or monthly Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily Indigo dotted line: outstanding round number. Red thick line: Untrustworthy line for me Red curve: EMA 20 close Indigo curve: EMA 200 close Green curve: EMA 800 close Black curve: EMA 1600 close x mark: Line which may not function ------------------------- --------------------------
FX_IDC:USDWTILong
by fondiea
Crude oil - In depth Elliott wave analysisGreetings oil traders, As you can see from the chart which is in weekly time frame, the move (INTERIM rally) is just a correction for the down trend; say for the super cycle wave (Y) Therefore, we sure say that the current move is merely a retracement for the Super cycle wave (Y) and the initial move (X) has been stagnated for some time at the areas of 23.6% and been resuming its move higher now. the further resistance are offered by two factors - trend line (LONG TERM) & the Fibonacci Resistance as it is given in the chart, The wave (X) in super cycle degree has been subdivided into triple three correction, within which wave W & X are completed and after which wave Y is currently being traded in cycle degree. For folks who find it difficult to follow, check our website where we have a shot a video presentation explaining the whole process from 2008 to till date - a really detailed analysis for free, check it out here www.mytradingcourses.com P.S You are welcome to seek any clarification on this & any of our past analysis Thank you
NYMEX:CL1!Long
by DineshKrishna
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