OIL (CL_F) Elliott Wave : Calling the Decline From the Equal Legs Area
Hello traders. In this technical article we’re going to look at the Elliott Wave charts of Oil commodity (CL_F) published in members area of the website. OIL has recently given us a 3 waves recovery that found sellers precisely at the equal legs area as we expected. In this discussion, we’ll break down the Elliott Wave pattern and forecast.OIL Elliott Wave 1 Hour Chart 08.25.2025
OIL is giving us correction against the 70.58 peak. We expect to see another leg up toward 64.68-66.01 area to complete a 3 waves (a)(b)(c) pattern. Our members know that we identify potential reversal zones using the Equal Legs technique. As long as the price stays within this region, we expect sellers to take control and push it down toward new lows. We recommended that members avoid buying the OIL at this stage, while favoring the short side.
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