A very important Crude Oil top may have been made on 09/28/23.
These are the factors.
1) Completed Elliott wave - Inverse Expanding Flat.
2) Bearish divergences on RSI and MACD.
3) Peak on 09/28/23 hit rising trendline.
4) Top one day before Full Moon on 09/29/23.
5) Bearish seasonal patterns until late December
There’s potential for Crude Oil to drop to the low 60.00 area by late 2023.
These are the factors.
1) Completed Elliott wave - Inverse Expanding Flat.
2) Bearish divergences on RSI and MACD.
3) Peak on 09/28/23 hit rising trendline.
4) Top one day before Full Moon on 09/29/23.
5) Bearish seasonal patterns until late December
There’s potential for Crude Oil to drop to the low 60.00 area by late 2023.
