Although the Oil might need a little persuasion, we're expecting the course to drop below the support line at $70.08 to continue with the downwards slope of the blue wave within the green target zone. Once completed, the blue wave should pump the course back up, before it ultimately hits the corrective low of the green wave .
WTI is done recovering and has finished wave b in blue. Already, it is stretching upwards, striving to work on our primary scenario. We expect the marker crude to climb above the resistance at $97.66 and into the turquoise zone between $99.97 and $113.53, where it should complete wave b in turquoise. After this feat, WTI should relax once more and fall into the...
Today is 14 Sep 2019.
The largest Aramco Saudi oil processing plant was attached by drones.
CL is currently at 54.85, next targets up are 57.00, 58.47, 59.94, and 61.40.
If it can break above 62.87, next target up will be 67.27.
After a massive selloff, breaking the 2016-2018 uptrend line, CL will likely find support at the bottom of this range, and the Yearly Pivot.
Its very unlikely we continue down from this current level - and a much higher % probability is that we get a DCB/Relief Rally
Bargain hunters will step in short term, short sellers will take profit, and we will see a push...
