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Elliott wave analysis on usoil (2016-08-19)

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Oil might be in wave 4 correction now. Because wave 2 is a sharp correction, wave 4 is more likely a consolidation. No need to trade this wave.

The target of this correction might go to 46.9 (largest it can go and it might not touch) which is a good position I will join the long again.

Wait patiently for the correction to finish and join the bull trend again. For mid-long term please refer to this chart.
USOIL starts another large correction up with target around 62


Good luck for everyone!
Not
The momentum of bear is much larger than I expected. USOIL might undergo a deep correction. Be patient.
İşlem aktif
Nice rally. I went long with SL at 46.5.
Not
It got supported from the rising channel.
anlık görüntü
Not
Bearish EIA data. I closed the position.

Feragatname

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