Based on my elliott wave projections over the last 10 years, I'm looking into the possibility that we're still correcting from the uptick in 2007-08'.
Obviously wave counts are just an educated guess, BUT...look at July 2017. It appears to be a very great impulse wave form ending around Oct 18'. If we make a new low and go below $42.06, I fear there could be a large selloff. Keep in mind I am a bear currently, but I'm not seeing any upward momentum and we already touched 99% retracement.
Therefore: Oil needs help quick, or I'm projecting we could fall 50%.
Obviously wave counts are just an educated guess, BUT...look at July 2017. It appears to be a very great impulse wave form ending around Oct 18'. If we make a new low and go below $42.06, I fear there could be a large selloff. Keep in mind I am a bear currently, but I'm not seeing any upward momentum and we already touched 99% retracement.
Therefore: Oil needs help quick, or I'm projecting we could fall 50%.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.