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Elliott Wave Crude Oil Futures Options CFDs 19 March 2019

Elliott Wave Crude Oil Futures Options CFDs 19 March 2019

Oil-Elliott-Wave-fut...

Elliott Wave Crude Oil Futures Options CFDs 19 March 2019

Oil 1 Hour Chart
Friday, 15 March 2019 at 12:29:00AM EST

Sharp leg back below previous wave 4 suggests a deeper decline at least in three waves, so Crude oil may drop back to 56.70 support level and then we will see if it's wave C or wave 3. If goes back into new highs, then we will adjust the view.

oil1hr03-15


Oil 4 Hour Chart
Tuesday, 19 March 2019 at 7:12:00 GMT

No change.
Crude oil can be unfolding a higher degree wave C, as part of a bigger three-wave correction. We labelled a EW ending diagonal as our alternate count, as we think there is a chance for a straight rise on oil towards 60 or even higher while dollar gets weaker and commodity currencies are showing strength. However, if from any reason market will turn below the channel support then we think bearish view will have to be considered.

oil4hr03-19

Count #2

oil4hr03-19-2

 

 


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

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