Tag Archives: weekly elliott wave usoil technical analysis

US OIL: Elliott Wave and Technical Analysis | Charts – August 2, 2019

Downwards movement was expected for the week. An outside week closes red.

This week On Balance Volume gives a reasonable signal at the weekly chart level, and the short-term volume profile supports the main Elliott wave count.

Continue reading US OIL: Elliott Wave and Technical Analysis | Charts – August 2, 2019

US OIL: Elliott Wave and Technical Analysis | Charts – June 7, 2019

Downwards movement was expected to continue for the week, which is exactly what has happened.

The Elliott wave structure is used to indicate when and where bounces may occur. Candlestick patterns and volume are used to guide the Elliott wave count.

Continue reading US OIL: Elliott Wave and Technical Analysis | Charts – June 7, 2019

US OIL: Elliott Wave and Technical Analysis | Charts – May 31, 2019

A small bounce to about 61.33 was expected to begin the week, and thereafter downwards movement was expected to continue and to show an increase in momentum. The bounce was more shallow than expected, reaching only to 59.69, but strong downwards movement fits the larger picture exactly.

Continue reading US OIL: Elliott Wave and Technical Analysis | Charts – May 31, 2019