Elliott Wave Crude Oil Futures Options CFDs 25 April 2019
Oil 1 Hour Chart
Thursday, 25 April 2019 at 08:03 GMT
Crude oil made only three legs from the highs, so we think that's just another corrective set-back within ongoing uptrend where next leg up can be fifth wave. Ideally we will see a rise into 67.00 area.
Oil 4 Hour Chart
Thursday, 25 April 2019 at 06:22 GMT
Crude oil broke nicely to the upside recently, right out of a triangle correction which was located in a wave 4). We can see a nice impulsive reaction in play from the 63.48 level, which can now be labelled as a sub-wave 5) of C or three, that can take price towards the Fibonacci projection area of 261.8 and 61.8 (66.60/67.60 area). That being said, limited upside can be seen because at least a three wave set beck should occur.
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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