Why Oil Should Be Supported in Weekly Chart

by elliottwave-forecast.com | January 11, 2018 9:54 am
Hello fellow traders, in this blog post, we will discuss oil in a more bigger picture. In the chart below, you can see crude oil futures on the weekly chart. From the 02/08/2016 low, we can clearly see...

Chevron (CVX) Looking for New All Time Highs

by elliottwave-forecast.com | November 16, 2017 12:33 pm
Chevron Corporation (NYSE: CVX) is an American multinational energy corporation. It engages in integrated petroleum operations, chemicals operations, mining operations, power generation and energy services related to Oil and Natural Gas. Oil-company stocks tend to rise when oil...

Petroyuan Can Accelerate the De-Dollarization

by elliottwave-forecast.com | November 15, 2017 12:17 pm
The move away from Petrodollar  In 1974, US President Richard Nixon and King Faisal from Saudi Arabia struck a deal. This deal gave birth to the petrodollar system which still lasts until this day.  The deal involves Saudi Arabia selling...

Oil markets turn bullish with shift to backwardation

by elliottwave-forecast.com | November 10, 2017 12:36 pm
This week both Brent Crude and WTI (Light Sweet Crude Oil) made a new price high in more than 2 years with Brent Crude rising to $64 per barrel and WTI to $57 per barrel. These price gains come...

CL_F Oil Elliott Wave View: Pullback in progress

by elliottwave-forecast.com | August 30, 2017 12:42 pm
Oil Short Term Elliott Wave suggests that the decline from 8/1 peak is unfolding as a double three Elliott Wave Structure where Minute wave ((w)) ended at 46.46 and Minute wave ((x)) ended at 48.76. Oil has since made a...

OIL ( CL_F ) Elliott Waves forecasting the rally

by elliottwave-forecast.com | August 1, 2017 10:48 am
Hello fellow traders. In this technical blog we’re going to take a quick look at the past Elliott Wave chart of OIL ( CL_F ) published in members area. In further text we’re going to explain the...

OPEC Meeting and Impact on Crude Oil

by elliottwave-forecast.com | May 31, 2017 3:48 pm
OPEC ended its highly anticipated meeting on Vienna last Thursday to discuss about extending the production cut in Crude Oil. They have decided to extend the current agreement to cut production output by 1.8 million barrels per day by...

Crude Oil Elliott Wave View: Mature Cycle

by elliottwave-forecast.com | April 12, 2017 8:17 am
Short term Elliott Wave view in Crude Oil (CL_F) suggests that cycle from 3/22 low (47.01) is unfolding as a double three Elliott wave structure where Minute wave ((w)) ended at 50.85 and Minute wave ((x)) ended at 49.88. Minute...

CL_F Elliott Wave View: Ending a cycle

by elliottwave-forecast.com | April 11, 2017 9:01 am
Short term Elliott Wave view in Crude Oil (CL_F) suggests that cycle from 3/22 low (47.01) is unfolding as a double three Elliott wave structure where Minute wave ((w)) ended at 50.85 and Minute wave ((x)) ended at 49.88. Minute...

Crude Oil (CL_F) Elliott Wave View: 5 Wave Impulse

by elliottwave-forecast.com | April 4, 2017 3:54 pm
Crude Oil (CL_F) started rallying from 03/22 low in a bullish structure which still needs another leg higher to become 5 impulsive waves. The instrument ended the minute wave (( iv )) at the 23.6% Fibonacci retracement area 49.96 from...