Hello fellow traders. As our members know , Oil has recently given us good buying opportunity . In this technical article we’re going to look at the Elliott Wave charts of Oil published in members area of the...
By Elliott Wave International There’s a widespread belief that rising oil prices are bearish for the main stock indexes and falling oil prices are bullish for stocks. That belief is reflected in this Sept. 5 CNBC headline:...
WTI has recently extended its upward trend, rising from 63.95 to as high as 79.76 and breaking above the 74.65 resistance level. This could lead to a further rise towards the key resistance level of 83.37 in...
After reaching a high of 126.35 in March 2022, prices have consistently declined, hitting a low of 63.95 on May 4th this year. The completion or continuation of this downward trend hinges on the key resistance level...
By Elliott Wave International The failures of Silicon Valley Bank, Silvergate Bank and Signature Bank have prompted a lot of discussion about the potential of a domino effect. People are wondering “what’s next?” The financial press is...
By Elliott Wave International If there’s one financial market that investors evaluate based on “market fundamentals,” it’s crude oil. This Feb. 10 Reuters news item provides an example: Oil may resume its rally in 2023 as Chinese...
Hello Traders in this blog we will see how CL_F Crude Oil Futures found support from equal legs area and reacted higher within wave 2. Many traders are wondering whether Crude Oil will still trade lower or...
By Elliott Wave International As I write on the morning of Friday, Nov. 18, crude oil is on track for its second weekly decline. The financial media usually finds “reasons” for a market’s price action that are...
By Elliott Wave International Everyone who drives a car is relieved that gas prices have dropped from what they were a little while back. However, if one major Wall Street firm is correct, get ready for higher...
By Elliott Wave International Most everyone knows that oil and gasoline prices have been soaring, and this steady climb started well before the Russia-Ukraine conflict. The upward trend began in April 2020, when oil prices briefly went...