4 thoughts on “Crude Oil

  1. amir

    thanks for the analysis
    I was wondering why you don’t apply indicators like AO to confirm wave 3, or channels to and trend lines to predict next target prices ?

    1. elliottchart Post author

      Thanks for your comment.
      My analyses on ElliottChart.com is purely based on the Elliott Wave Principle,
      In order to approach a perspective which could have a complementary role alongside some systems.

  2. Raj

    In your alternate bearish count, the wave which is bullish now (presumably 4th wave) doesn’t look corrective as time taken versus momentum looks very impulsive, so is it still possible to term this as a corrective wave? besides that it also seems like a 5 wave instead of a 3 wave move or do you think the completed wave is only A wave of the ABC correction in which case this can be still bullish until 61.8 right. Please clarify ..

    1. elliottchart Post author

      Thanks for the good points.
      Yes, the rise from 37.75 looks more impulsive, but it has not yet unfolded as a complete five-wave, that could seriously dent the odds for a new low and elevate the odds toward the bullish case.


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