Cookies Policy

Our website uses cookies.
By continuing to browse on this website, without changing the cookie settings of your Internet
browser, you agree to our use of cookies.

Saturday, May 27, 2017

05.27.2017 USOil long term

Last analysis:

All went as expected, so far.

2-daily TF

My last count would have called for a sharp upwards movement from the low, because I awaited a C-wave up.

Well, we can not see a sharp movement so far.

All we see is fairly corrective price patterns.

So I abandoned the idea of a bigger ABC-flat (up), which would have been the B-wave of the correction since the very top.

Although I have a bit of headache with the new wave 1 blue in my new chart: On first sight at higher or highest TF it looks pretty corrective, but when one goes sub daily TF, one can count an impulsive wave.

The ongoing wave 4 blue may reach the top of the gren wave 4, which is around 62 USD.

The base channel comes in around 62-70.

Count will be invalidated around 75.

It is very hard to count the price action in the ongoing wave 4 blue. Chances are 50:50, that we will see either up or down, When first down, then maybe a more complex corrective pattern is building, and the target of around 60 is postponed for a while.

No comments:

Post a Comment