USOIL Parallel channel reversal at 15 mins TFUSOIL Parallel channel reversal at 15 mins TF (Short)
Entry @ 3473
Stop Loss @ 3488
Target 1 @ 3458
Target 2 @ 3443
Crude Oil WTI
Will Crude oil touch 3648 before 2021?Crudeoil has started an Elliott wave and made the 4th wave, and now it's making a fifth wave. As per the rules of the Elliott wave, the fifth wave will be completed at 61.8% ( 3648 ) or 50% ( 3600 ) of Fibonacci retracement 1+3 .
The 2nd wave is 61.8% of the 1st wave, the 3rd wave is (more than) 261.8% of the 2nd wave, and The 4th wave is 38.2% of the 3rd wave.
After the completion of the fifth wave, there will be the ABC correction. And it would be completed between 3356 and 3216 .
If the trend breaks the 3356 and 3216 both the levels, then the Elliott wave may fail. But if the trend completes the Elliott wave, the trend will again start to rise.
CRUDE ABOVE 3500 CAN GIVE GOOD MOMENTUM CRUDE FORMED DOUBLE BOTTOM AS SHOWN IN CHART, AND RETESTING IT..
LOOKS BULLISH ABOVE 3500 RESISTANCE.
EDUCATIONAL PURPOSE ONLY !
USOIL Ascending parallel channel formation at 4 hour TFUSOIL Ascending parallel channel formation at 4 hour TF
USOIL Descending triangle pattern formation at 15 mins TFUSOIL Descending triangle pattern formation at 15 mins TF
USOIL rising wedge pattern formation at 4 hour TF Market story - USOIL formed rising wedge pattern at 4 hour TF and expecting to reach S3 zone in following days
USOil Symmetrical triangle pattern breakout 15 mins TF USOil Symmetrical triangle pattern breakout 15 mins TF
USOIL Symmetrical triangle pattern formation at 30 mins TFUSOIL Symmetrical triangle pattern formation at 30 mins TF
USOIL Descending triangle pattern formation at 30 mins tfUSOIL Descending triangle pattern formation at 30 mins tf
WTI . Weekly Technical Analysis UpdateMidterm forecast:
43.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains to resistance(s) 46.30, 48.70, 50.70 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 66.
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USOIL WTI CRUDE LEVELS FOR MONDAY 7TH DEC 2020Important support and resistance areas for USOIL WTI CRUDEOIL for coming Monday 07th Dec 2020
MCX CRUDE OIL: Massive Rally is coming soonAccording to this chart, crude oil will keep moving forward and hit the following targets: 3600 - 4000 - 4400 - 4800 .
Here value 1 of retracement will react as support. And consecutive breakout of this support is a direct sign of a downtrend. It can be up to 0.886 (2982) to 0.786 (2735). You can use it as a target.
