Expecting drop in Crude Oil (Elliott Wave Analysis)

17 Nis 2017

Crude Oil seems to be moving in an 3 Wave corrective structure.

Hence I expect it to achieve atleast
T1 : 53.30

if further downside is seem then it can drop till
T2 : 51.80

Even lower levels uptill 50.80 are possible but that is something we can only talk about later on.
From a positional perspective this market is a buy on dips as I believe much more upside remains, positional traders should wait for the 3 Wave completion and then add on to there longs.
I will update further as this market progresses.

18 Nis 2017

Not

T1 achieved

20 Nis 2017

Not

T2 achieved

20 Nis 2017

Not

Went till the 4 th Wave of one lesser degree, exceeding all targets as expected.
Closed.