Thread: Elliot Wave Analysis

oil I am giving a revised count. I am totally bearish on oil. I believe that the uptrend is finished in oil and I am anticipating a long term bear on this commodity.

oil on a weekly count.

oil on 4 hrs. I believe that the weekly correction is finished on a c wave with 5 waves and currently declining rapidly for a major wave 1. Here is an 4 hour breakdown of this chart.

The Oil bear market began 2008 - Wave [A] of this correction pattern (ZigZag ?) is still unfolding.
Bear markets of the commodities last 20 years.

Originally Posted by ;

The Oil bear market began 2008 - Wave [A] of the correction pattern (ZigZag ?) is still unfolding. Bear markets of these commodities last 20 decades. Sixer image

Sixer,
although you are expecting at least a 50 percent or a 61.8 retrace in the last impulsive swing, the C wave looks like it's done a 5 wave impulse and we had rather a fantastic impulsive move down that is what I based my own count. I might be wrong but I am trying shorting with stop loss at swing high in 66.63.

Love if you could provide me your inner count for wave y in your chart.
Here's mine.

Hi,
Thanks for your charts of Gold and Oil. Both of you are experts of EW.
Regards,

Originally Posted by ;

, I hope that the WTI count (EWMI) from feb can help you. Sixer picture

thanks to the chart sixer.

oil is heading down for the 3rd tide as mentioned previously from the charts. Expecting at least a 62.75 for FE 100 . After which down to 61.06 to get FE 161.8
Keeping fingers crossed.

index on a minor 5th wave to 61.8 hopefully. 90.24 is your target.

Originally Posted by ;

oil is heading down to the 3rd tide as mentioned previously from the charts. Expecting at least a 62.75 for FE 100 . After down which to 61.06 for FE 161.8 Keeping fingers crossed. image

temporary stop at 61.8. May go up for a little while then crash. Not expecting up. profit taking going on.