Crude Oil Elliottwave Count

8 feb 2017

because of some oversupply in oil inventories, reviving of shale oil and increasing drilling activity in US. I expect some downward pressure for crude oil before a raise in price due to OPEC's plan to cut down supply to raise oil prices.

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All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.

14 feb 2017

Ordine annullato

there were no signal to sell on the selling area and price did not reach buy area.

Price broke thru and invalidated this ew count. new count will be uploaded.

Fundamentals still intact and with the release of OPEC monthly report strengthens the idea to go long in oil.