Hello Supporters and Viewers,
Here is new month Oil chart.
Currently there is an "in-neck" bar forming which suggests further downside.
Indicators are also suggesting more downside, as is the bulk of TV opinion.
Looking at the main players, this view may be borne out.
Call volumes are sitting 55-57 with a weekly change of +13k.
Put volumes are at 50-52 with a...
Head and Shoulder pattern Entry 53.40
Target 1 =>52.15
Target 2 =>50.40
Neck line 52.70 ==> Price breaks the neck line and makes a nice move down.
=> zig zag pattern ABC
** Head and Shoulder or Descending Triangle pattern
Elliott wave 3
Target 1 = 52.15 Elliott wave 4 have the possibility
CL1! USOIL WTIUSD CLK2017
Hamonic Bat Pattern Bearish orange color
Hamonic Alt bat Pattern Bearish orange color
Motive wave
Small Elliott wave 5
Big Elliott wave 3~5
--> Big Elliott wave 1
hamonic pattern Gartley
--> Small Elliott wave 1 & Big Elliott wave 2
Hamonic pattern Gartley
=> Da
Corrective wave
small Elliott wave 5
-> Expanded flat & Hamonic pattern crab...
![CLK2017: CL1!/USOIL/WTIUSD/CLK2017 [Corrective wave Elliott wave Zigzag]](https://s3.tradingview.com/w/wLpxyn2D_mid.png "CL1!/USOIL/WTIUSD/CLK2017 [Corrective wave Elliott wave Zigzag]")
![CL1!: USOIL/CL1!/WTIUSD/CLK2017 [Bearish Head and Shoulder pattern]](https://s3.tradingview.com/c/C7gLZLLw_mid.png "USOIL/CL1!/WTIUSD/CLK2017 [Bearish Head and Shoulder pattern]")
