OIL Elliott Wave Analysis: Bearish Reversal

Crude oil has turned bearish recently with a sharp reversal down from around 104.00 level and through the lower support line of a corrective channel. A reversal from the highs is very strong with increasing volume and momentum, and impulsive price action. Therefore we believe that wave (c) down is under way back to

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OIL Elliott Wave Analysis: Complex Correction In Wave (iv)

Crude oil is now turning slightly down from around 98.60 after only three waves up from 95.20 so we labelled this move as wave b) that is part


Technical forecast for WTI Crude

WTI Crude unable to reach 9445 in a near 3 month bear trend & as expected we saw lower prices at the start of the week.Immediate resistance at


Technical forecast for WTI Crude

WTI Crude bounced off 103.65/50 as predicted & beat 104.50 for a selling opportunity at 105.10/20 with stops above 105.40. We did trade at 105.43 but if stops


Technical forecast for Natural Gas

Natural Gas beat 3.500 to fill the gap at 3.548/556 for a selling opportunity. We over ran slightly to 3.562 but have eased & could continue lower to


Technical forecast for Gasoil

Gasoil September continues sideways. Look for support at 932.50 but a break below Tuesday’s low of 929.25 should then target 925/924.50 for a short term buying opportunity. Be


Technical forecast for RBOB

RBOB Gasoline unexpectedly broke 295/296 but has halted below 299/300 & the next selling opportunity. We are getting overbought short term so there is a risk of a


Technical forecast for Brent Crude

Brent Crude held support at 109.35/30 & is just sitting above 110.10/20 which should allow a test of 110.60/70 possibly as far as 111.00 highs for a selling


Technical forecast for RBOB

RBOB Gasoline made it back to 295/296 for a selling opportunity & topped exactly here. This trade worked perfectly & with the outlook turning more negative we could


Technical forecast for Brent Crude

Brent Crude held resistance at 110.10/20 & support at 109.35/30. The outlook is quite negative so we could continue lower today for support at 108.65/60. A bounce from