Elliott Wave Crude Oil Futures Options CFDs 1 April 2019
Oil 1 Hour Chart
Friday, 29 March 2019 at 14:42 GMT
USDCAD is trading aggressively lower following surprising jump in Canadian GDP figures. Move down on USDCAD has also been supported by higher oil prices which is at the high, but can reach more upside into wave 5) as this leg must be made by three subwaves. USDCAD may continue with its decline to 1.3330 and then even lower to 1.3000.
Oil 4 Hour Chart
Monday, 01 April 2019 at 06:09 GMT
Crude oil can be unfolding a higher degree wave C, as part of a bigger three-wave correction with a possibility of extending its rise towards the 62.0/65.30 region. First region of resistance can be seen at the 62.00 area (Fibonacci ratio of 138.2), and the second, higher at the 65.30 area (Fibonacci ratio of 161.8).
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Elliott degrees in order: Grand Super cycle wave, Super cycle wave, Cycle wave, Primary wave, Intermediate wave, Minor wave, Minute wave, Minuette wave and Subminuette wave.
Elliott Wave Crude Oil, Crude Oil Futures, Crude Oil Options, Crude Oil CFDs