Bearish oil price action.

Chart had a bullish HVF breakout but did not reach target. Despite overlap of wave 1 and 4, selloff appears to be Elliot Wave bear trend. New target for price of oil             is bottom end at $32
评论: Quick retest of funnel level, tapped it then continued up with speed. This is bullish price action after FOMC and although i do not expect it to get above 54, the strength to hold the funnel level and continue up is enough to make the bear case here weak currently.
Please update!
@lovely4u, no problem. The hold of the funnel level was quite bullish, so we are looking upper end again with resistance at 50.75
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