Oil has turned lower after completing wave ( b ) @ 102.50. Expect a test of 99.60 – 100.37 to complete wave A after which Oil should correct the entire drop from 104.37 and trade lower again. We don’t like chasing weakness at current levels as cycle from 104.37 would be ending soon and we don’t recommend buying into proposed wave B as hourly cycles are still negative.
$CL_F (10.14.2013)
Commodities
Subscribe to Get Free Market Insights
Professional Elliott Wave insights, charts, and forecasts to guide your trading decisions.
Related Articles
CommoditiesNews
Elliott Wave Analysis: WTI Crude Oil (CL) 5‑Swing Rally from July Low Favors Extension
The short-term Elliott Wave outlook in WTI Crude Oil (CL) presents a well-defined impulsive rally...
CommoditiesNews
Silver (XAGUSD) Elliott Wave Structure Downside Bias Holds While Under $63
Since forming the all‑time high at $121.6 on January 29, 2026, Silver (XAG/USD) has entered...
Commodities
Silver $XAGUSD Elliott Wave Calling for a Decline After Zig Zag Pattern
Hello fellow traders. In this technical article we’re going to take a quick look at...