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Elliott Wave Crude Oil Futures Options CFDs 4 June 2019

Elliott Wave Crude Oil Futures Options CFDs 4 June 2019

Oil-Elliott-Wave-fut...

Elliott Wave Crude Oil Futures Options CFDs 4 June 2019

Oil 1 Hour Chart
Tuesday, 04 June 2019 at 08:11 GMT

Crude oil is also still in risk-off mode, and it may hit a new low as latest recovery was made by a small three waves so it looks like a wave four with wave five yet to come.

oil1hr06-04

 

Oil 4 Hour Chart
Tuesday, 04 June 2019 at 06:26 GMT

Crude oil made a sharp drop in the last couple of days, which we now see it as sub-wave 3) of three. Possible support for sub-wave 3) can be seen around the Fibonacci ratio of 200.0 (51.00 area), where bears may temporarily slow down, and a three-wave pullback may follow. We are talking about a wave 4) pause within the downtrend, which can later stop around the 53.40/54.00 area.
In case price makes a much deeper pullback, above the 54.00 area, then likely energy is trading in a wave four of a higher degree.

oil4hr06-04

 

 


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

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