Oil Short Term Elliott Wave Update 11.25.2015

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 proposed complete at 43.46. Wave ((x)) pullback is currently in progress to correct 11/21 cycle in 3, 7, or 11 swing, ideally reaching 40.65 – 41.18 (50 – 61.8 retracement). As far as pivot at 39 is intact during wave ((x)) pullback, oil is expected to resume higher again.

2CL 1H20151124215432

At EWF we offer  24 hour coverage of 42 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!

Back

Subscribe to our Commodities Blog

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