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FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), LLOYDS BANKING GROUP PLC ORD 10P, POWERHOUSE ENERGY GROUP PLC ORD 0.5P, UK OIL & GAS PLC ORD 0.01P, UNION JACK OIL PLC ORD 0.025P, PHOTONSTAR LED GROUP PLC ORD 0.01P
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CL1!, WTI. The idea of selling on US-OIL.
Previous idea to buy US-OIL: https://uk.tradingview.com/chart/CL1!/OkpT3vsc-CL1-LIGHT-CRUDE-OIL-TF-H4-The-idea-for-buy/
CL1! LIGHT CRUDE OIL. TF-H4. The idea for buy.
CL1! LIGHT CRUDE OIL. Plan to buy.
motive Elliott Wave
middle Elliott Wave
Zig Zag ABC
ABCD Pattern 50% = 200%
Bearish Bat pattern 88%
Bearish Alt Bat Pattern 113%
Elliott Wave Corrective Wave Zig Zag Pattern
Short-term consolidation is underway, with Crude Oil prices currently balanced around the USD47.20, (61.8%) Fibonacci retracement.
However downside risks remain in force as bearish weekly studies deepen.
Further weakness is looked for, with a break below the USD47.01 low of 22 March opening up the USD45.28, (76.4%) retracement. Still lower is the USD44.82 low of ...
Crude Oil prices have begun their anticipated corrective pullback.
Prices have broken below the USD50.71 congestion base and reached the USD48.35, (23.6%) Fibonacci retracement of the 2016-2017 rally. Falling momentum studies and the bearish Tension Indicator (not shown) anticipate still deeper reactions towards the USD47.18, (61.8%) Fibonacci retracement of the ...
All of 2017 is in 4 trading wings.
We are about to go from bottom wing to the 2ND one.
RSI developed a strong positive rally and every time he dose we have a strong clime.
MA 50 is there to support just before the breach.
A very bullish open to the new week of the back of NOPEC news. There is still plenty more room for upside, as at the last OPEC meeting we did $5 in a day. So a potential upside target for oil is the support/resistance level from last year at around $56.67.
How we get there will be a matter of debate, some traders see a pullback, other traders think we'll carry on ...
Triangle suggests one more pullback, and possibly even to range low of 42.80. But it looks like it will break 52 next year.
Even us die hard bulls were questioning the validity of this elliotwave 5 wave sequence earlier in the week which gives USoil a potential butterfly pattern to 59 dollars , but now it has shown its true colours.
I will be looking at 48.30 as its key resistance for a short...and a potential retest of the 46.60 support....before it takes off again...