Short Term Elliott Wave Structure in Oil (CL_F) Favors Downside

by elliottwave-forecast.com | June 5, 2024 2:29 pm
Short Term Elliott Wave in Oil (CL_F) shows incomplete Elliott Wave bearish sequence from 04.12.2024 high. Down from there, wave 1 ended at 76.15 like the 1 hour chart below shows. Rally in wave 2 unfolded in...

Crude Oil Downtrend Resumes After Breaking Key Support

by ForexCycle.com | June 4, 2024 1:22 am
The WTI crude oil futures contract has broken below the key 76.01 support level, plunging as low as 73.65 in recent trading sessions. This technical breakdown suggests that the broader downtrend from the 87.07 high on April...

Crude Oil Breaks Out of Bearish Channel, Key Resistance Ahead

by ForexCycle.com | May 29, 2024 1:25 am
The WTI crude oil futures contract has broken out above the resistance of the falling price channel visible on its 4-hour chart. Following the bullish breakout, the commodity is now facing a key test at the 80.04...

Crude Oil Remains in Downtrend, Key Support Test Looming

by ForexCycle.com | May 22, 2024 3:47 am
The WTI crude oil futures contract remains confined within a falling price channel visible on the 4-hour chart, staying in the broader downtrend that originated from the 87.07 high. Consolidation Within Downtrend As long as the price...

OIL (CL_F) Elliott Wave: Incomplete Sequences Forecasting The Path

by elliottwave-forecast.com | May 1, 2024 5:11 pm
Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of  Oil published in members area of the website. The commodity shows bullish sequences in the cycle from the 67.75 low. Consequently...

“Climbing Oil Prices Bearish for Stocks”? It’s a Myth!

by ForexCycle.com | September 14, 2023 12:11 am
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 Oil Price: Upside Move Continues

by ForexCycle.com | July 26, 2023 10:05 am
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...

Analysis of WTI Crude Oil Price Trend

by ForexCycle.com | May 17, 2023 3:48 am
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...

Learn How to Navigate Oil & Volatile Energies

by ForexCycle.com | April 1, 2023 12:49 pm
Energy markets are among the most volatile right now with opportunities and risks aplenty. Here’s your chance to anticipate the NEXT big move in the energy sector BEFORE it starts. Our friends at Elliott Wave International just unlocked...

Why Oil Prices Fell in the Face of “Supply Shock”

by ForexCycle.com | January 21, 2023 7:09 am
By Elliott Wave International Looking back on 2022, one of the biggest fears about oil was that prices would skyrocket even more than they did due to a disruption in supply from Russia. Of course, Russia has...