Oil $CL_F Short-term Elliott Wave Analysis 9.29.2016

Short term Elliott wave count suggests that pullback to 42.74 at 9/16 ended wave X. The rally from there is unfolding as a double three where wave (w) FLAT ended at 46.52, wave (x) ended at 44.22 and wave (y) is in progress as a flat towards 48.1 – 48.9 area to complete wave ((w)) and end cycle from 9/16 low. Afterwards, expect wave ((x)) pullback in 3, 7, or 11 swing to correct cycle from 9/16 low before the instrument resumes higher again. We don’t like selling the proposed pullback.

2CL 6020160929082905

At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer


Subscribe to our Chart Of The Day Blog

First Name: *
Last Name: *
Your Email Address: *