Long Term Elliott Wave Count for Crude Oil – Charts + Indepth video Analysis.
I am going to go through the long term Elliott wave Count in Crude Oil.
Which is operating in the market right now.
The Bullwaves Crude Oil Elliott wave count begins at the top level daily count,
And works downwards to the 30 min wave count.
This page is updated consistently!
So check back every so often to view the updated
Crude Oil wave count.
U.S CRUDE OIL
My Bias: topping in a large correction wave .
Wave Structure: Double combination higher in wave  red.
Long term wave count: wave  target $63 - $70
Todays volitle price action has completed a five wave
pattern to the downside labelled wave (i) grey.
the price should now correct higher into about 62.97 cash,
Which is the level of the previous wave 'iv' pink.
A break of support at 60.75 would confirm the bearish outlook.
Watch for a possible break of 60.75,
Followed by a three wave rally in wave (ii) grey.
The price is now close to a lower degree bearish Elliott wave signal.
The probability of a further large decline in wave (iii) of [iii] is growing.