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Elliott Wave Crude Oil Futures Options CFDs 4 January 2019

Elliott Wave Crude Oil Futures Options CFDs 4 January 2019

Elliott-Wave-Oil-fut...

Elliott Wave Crude Oil Futures Options CFDs 4 January 2019

Oil 30 Minute Chart
Thursday, 3 January 2019 at 7:40:00PM AEST

Crude oil has made a nice recovery but so far only in three waves up to 48.00, so I think that energy may once again come under pressure for a fifth wave lower, back to 42.50, especially once corrective channel is broken.

oil30mn01-03


Oil 4 Hour Chart
Thursday, 3 January 2019 at 6:22:00PM AEST

Crude oil is trading at the lows, now unfolding a five-wave drop down from 54.00 level which we labelled as wave 5) of A. At the moment we see price ending sub-wave 4 of 5), which can once completed push price into a new low below the 42.56 level.
Be aware that we are tracking final leg of a bigger, bearish impulsive structure, so a recovery can be around the corner.

oil4hr01-03

 


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Elliott Wave Crude Oil,  Crude Oil Futures, Crude Oil Options, Crude Oil CFDs

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