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US OIL Elliott Wave Technical Analysis – 9th March, 2018

A small bounce was expected before the continuation of a downwards trend. Price has moved slightly lower for the week, but with a very small real body mostly price moved sideways. The outlook remains the same. Summary: The outlook will remain bearish while price...

US OIL Elliott Wave Technical Analysis – 2nd March, 2018

A trend change was expected after a little more upwards movement. This is exactly what happened. Monday saw a new high; thereafter, the week saw downwards movement. Summary: The outlook will remain bearish while price remains below 66.65. A new high above 66.65 at...

US OIL Elliott Wave Technical Analysis – 23rd February, 2018

Upwards movement was expected to end last week, but price continues to move higher. Volume does not support the rise in price though, and there is resistance overhead. Summary: The outlook will remain bearish while price remains below 66.65. A new high above 66.65 at...

US OIL Elliott Wave Technical Analysis – 16th February, 2018

A bounce was expected for the last week, which is exactly what has happened. Summary: The target is at 13.39. A new low below 55.24 would add confidence to the main bearish wave count. The bounce may be over at Friday’s high. Volume is declining and there is a...

US OIL Elliott Wave Technical Analysis – 9th February, 2018

Last analysis expected Oil had made a high. A breach of the channel on the daily chart added confidence to this view. Thereafter, Oil has continued to fall as expected. Summary: The target is at 13.39. In the short term, look out for a bounce that should not make a...