Elliott Wave View: Oil Looking To Break Higher

by elliottwave-forecast.com | July 9, 2020 4:24 pm
Light Crude Oil 45 minutes chart below shows that the commodity has ended wave (2) pullback at 37.09 low.  From there, the commodity extended higher, with the rally unfolding as a diagonal Elliott Wave structure. Up from that...

Crude Oil Staging Furious Comeback

by elliottwave-forecast.com | May 21, 2020 3:25 pm
Crude Oil prices are staging impressive comeback after last month’s collapse to -$30. Sentiment in Oil has vastly improved in the past few weeks.  Hopes of the supply cut as well as demand rebound help to support...

$USO United States Oil Fund Elliott Wave & Longer Term Cycles

by elliottwave-forecast.com | April 20, 2020 4:35 pm
$USO United States Oil Fund Elliott Wave & Longer Term Cycles Firstly the USO instrument inception date was 4/10/2006. CL_F Crude Oil put in an all time high at 147.27 in July 2008. USO put in an...

Elliott Wave View: Crude Oil (CL_F) Sellers Remain In Control

by elliottwave-forecast.com | April 16, 2020 3:45 pm
Decline from April 23, 2019 high in Oil (CL_F) remains in progress as a 5 waves impulse. Down from April 23, 2019 high, wave (1) ended at 50.6 and wave (2) bounce ended at 65.65. Oil then...

Elliott Wave View: Sweet Crude Oil (CL_F) in Ending Diagonal

by elliottwave-forecast.com | March 18, 2020 3:36 pm
Elliott Wave view in Sweet Crude Oil Futures (CL_F) suggests that the decline from April 23, 2019 high (66.6) is unfolding as a 5 waves impulse Elliott Wave structure. Down from April 23, 2019 high, wave (1)...

Oil Craters 30%, How Low Can It Go?

by elliottwave-forecast.com | March 9, 2020 4:19 pm
OPEC’s failure to strike a deal to cut production output with Russia caused Saudi Arabia to slash oil’s prices in an all-out price war. US West Texas Intermediate Crude plunged more than 30% to $27.9 per barrel...

Elliott Wave View: Oil Shows 5 Waves Rally

by elliottwave-forecast.com | February 19, 2020 4:14 pm
Short term Elliott wave view in Oil (CL_F) suggests the rally from February 5 low shows a 5 swing bullish sequence. We label the rally as an impulse Elliott Wave structure with a nest. Up from February...

Oil (CL_F) Selling Wave Four Bounce At The Blue Box Area

by elliottwave-forecast.com | February 3, 2020 4:40 pm
In this blog, we are going to take a quick look at the Elliottwave chart of Oil (CL_F).  Oil is proposed to be in wave ((C)) which we expect to unfold as a 5 waves move down. ...