Crude Oil Elliot Wave Idea
An update to several recent and older ideas on Crude Oil:
I believe we are nearing the end of wave 1 of 5 and if so could see a correction to mid 60's to 0.618 fib, but could correct higher at 0.382 or 0.5. Wave 3 should follow the correction to at least 1.618 of wave 1. Ultimately I think wave 5 will hit 1.618 of the larger wave 4 (6666/5809) around 72.
Daily TSI and daily MACD both bullish and the bullish Harami I pointed out last week seems to be having the desired effect:
Check out previous weekly bullish Harami, more green follows :)
I believe we are nearing the end of wave 1 of 5 and if so could see a correction to mid 60's to 0.618 fib, but could correct higher at 0.382 or 0.5. Wave 3 should follow the correction to at least 1.618 of wave 1. Ultimately I think wave 5 will hit 1.618 of the larger wave 4 (6666/5809) around 72.
Daily TSI and daily MACD both bullish and the bullish Harami I pointed out last week seems to be having the desired effect:
Check out previous weekly bullish Harami, more green follows :)
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