Technical Analysis:
- Crude Oil(CL) is still doing a ((W)) ((X)) ((Y)) correction structure in Daily Chart
- We present two possible Paths
- For Path 1 in Black with 65% probability. We expect that the correction will be completed at around HKEX:53 -56 where the smart buyers can appear
- For Path 2 in Blue with 35% probability, We expect that the correction...
Technical Analysis:
- Crude Oil(CL) is doing a ((W)) ((X)) ((Y)) correction structure in Daily Chart
- We expect that the correction will be completed at around HKEX:50 -55 where the smart buyers will appear
- In short term, It's doing wave ((X)) in black once it's done we can forecast the entry area more precisely
- H1 & H4 right side are turning up
...
We have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note:
1. Strong winds and mild temperatures will certainly reduce energy demand.
2. Bubbles burst in the financial markets. One...
We continue to stick to our priority scenario in CL and believe that a rise in wave (c) looks the most likely. Price drop below $72.37 jeopardizes this scenario.
