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US OIL Completed its full circle of Elliot wave i.e. 1,2,3,4,5. Completed counter waves of A, B and in the process of completing C. Stuck up in the circle. The Lower white line is not likely to be broken. C wave likely to be broken within this line. For execution we will have to refer to 1H Chart. 1H Chart shows price above 200 SMA but 100 SMA is below it. May, take some candles to reverse the situation and may be by Wednesday(i.e.) inventory day of US oil become fully bullish. Please refer to my earlier posts on US Oil. This is just for educational purposes only. I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision.
TVC:USOIL
by rekhi567
US - Oil - Life Time Analysis Three Horizontal Lines have been drawn. Upper most line is the 79.72; showing weekly Horizontal Support. Here, it is showing a reversal. Lowest Line is the line where two previous lines have made trend line. But, these trend lines are not final unless, third valid point is traced. Time remaining for the week to end is around 2 days and 20 h. Please wait for the week to end or the price to retrace from the lowest most line so that a level gets confirmed. Please check me previous posts on US Oil. Link Provided. I am not a Registered Analyst with any regulatory agency. Let you grow and I may following your foot steps. Thank You.
TVC:USOIL
by rekhi567