Expecting drop in Crude Oil (Elliott Wave Analysis)
Aggiornato
Crude Oil seems to be moving in an 3 Wave corrective structure.
Hence I expect it to achieve atleast
T1 : 53.30
if further downside is seem then it can drop till
T2 : 51.80
Even lower levels uptill 50.80 are possible but that is something we can only talk about later on.
From a positional perspective this market is a buy on dips as I believe much more upside remains, positional traders should wait for the 3 Wave completion and then add on to there longs.
I will update further as this market progresses.
Hence I expect it to achieve atleast
T1 : 53.30
if further downside is seem then it can drop till
T2 : 51.80
Even lower levels uptill 50.80 are possible but that is something we can only talk about later on.
From a positional perspective this market is a buy on dips as I believe much more upside remains, positional traders should wait for the 3 Wave completion and then add on to there longs.
I will update further as this market progresses.
Nota
T1 achievedNota
T2 achievedNota
Went till the 4 th Wave of one lesser degree, exceeding all targets as expected.Closed.
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Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
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