EuroMotif

WTI at or near ''bottom''? US Crude Oil to bounce soon $55 key

EuroMotif Mod Cập nhật   
TVC:USOIL   CFDs Dầu thô WTI
This is a followup to my longer term outlook posted here:
This massive drop was a little beyond my previous expectation, and the steep slope is quite alarming.
But I think we are nearing a temporary bottom, and probably about to do a ''Dead Cat Bounce'' for a wave 4.
Then I expect one last dip for before any real recovery.

The green zones are where I see support.
The wave (c) I have drawn is my ''best guess'' for the actual bottom.

Of course, at any time a Trump Tweet could tank the price another $10 in an hour :(
Bình luận:
Well it plunked into my target and is sitting there But maybe now there will be a dead cat bounce with yet one more low. Will evaluate further.

Zoomed way into the 5min chart, the zone I had identified is certainly noticed. But it went slightly below. Am looking for clues that I may have missed for that exact bottom. Or maybe it was sheer momentum that even the final Fib had to give a bit.

Putting a Fib on the first impulse of the bounce, the extensions seem to line up nicely with previous zones. So this bounce is IN-SYNC to the overall rythm
Bình luận:
I have posted an update with short term view (15 min) of the bounce, and analysis of the strength (or lack thereof) here

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Thông báo miễn trừ trách nhiệm

Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.