forex_managed_account_1

Oil: Elliottwave Structure suggests medium term low can be in place

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 24, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Joined:
    Sep 1, 2015
    Messages:
    4,073
    Likes Received:
    1
    Short term reading of the Elliott Wave cycle suggests the decline to 39 at 11/21 ended wave (B) and oil has turned higher in a double three structure where wave (w) ended at 41.66, wave (x) ended at 40.41, and wave (y) of (w) is in progress towards 43.15 - 43.8 to end the cycle from 11/21 low. Once wave (w) is complete, oil should pullback in wave (x) to correct 11/21 cycle in 3, 7, or 11 swing, then as far as 39 pivot is intact during the pullback, it should resume higher again.

    Continue reading...
     

Share This Page

free forex signals