This bearish count seems very less likely to play out however is still a possibility and hence should be considered as an Alternate Count.
It seems that Crude is in the last stages of what I see as an Expanding Ending Diagonal. I will wait for confirmation however as this market has already fallen below the 61.8% mark of the previous up swing. I will update further as this market progresses.
It's time to throw sellers out of positions Trade without indicators and trend lines is realistic
Oil is consolidating in a nice range, with clear levels to play from.
High Risk Reward Crude Oil Short Opportunity
USOIL wait for breakout and confirmation
Hello again friends! Today we see that price crossing into a potential reversal area where we see many things have been lining up. First and foremost, notice this steady uptrend. Price has come down in the form of a complex pullback. A fibonacci inversion was taken from the center of this pullback and price has just hit the all-important 1.618...
CRUDE OIL TESTING RESITANCE LINE. SOON 2 B SHORT
Short Term 45.50 Long Term 41.20
Yesterday, as expected, breakout was bring the price near 46$ and then his weakness bring the price short. Now I can see a really bearish pattern: the M bearish. The confirmation of this pattern must be searched at this support breakouts: River and Moving Average 50 - 44.80/44.60 Support Moving Average 144 - 43.50 Support Moving Average 288 - 42 Now this supports...
45.30 is MA50, this level is important because breakout can bring the price near 46$. We must keep in minf 44.90 is the support, breakout of the support could be rail at 41.90. Good trading.
Buy position aim $49 in the next week