Elliott Forecast - Oil (CL) Short Term Impulsive Structure Suggests Further Upside | ResearchPool

Almost there...

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

First Name*

Last Name*

Country*

Email*

Password* ( 6 or more alphabetic and numerical characters )

Get financial insights straight to your inbox

YES

I have read and accept ResearchPool Terms & Conditions, and Privacy Policy, including our Cookie Use Policy

Already on ResearchPool? Login Now

Report

Elliott Forecast

Daud Bhatti

Oil (CL) Short Term Impulsive Structure Suggests Further Upside

November 22, 2023 By

Oil (CL) ended cycle from 9.28.2023 high as a 5 waves impulse. Down from 9.28.2023 peak, wave 1 ended at 81.5 and rally in wave 2 ended at 90.78. The instrument then extended lower in wave 3 towards 74.91. The 1 hour chart below shows the move down ending wave 3. Then it corrected in wave 4 which ended at 79.77. Oil then resumed lower in wave 5 towards 72.16 and this completed wave (A) in higher degree.

Wave (B) rally is presently in progress as a . Up from wave (A), wave (i) ended at 73.21 and pullback in wave (ii) ended at 72.75. Oil extended higher in wave (iii) towards 76.63 and dips in wave (iv) ended at 76.20. Final leg wave (v) ended at 78.22 which completed wave ((i)). Pullback in wave ((ii)) is currently in progress to correct rally from 11.17.2023 low before it resumes higher. Down from wave ((i)), wave (a) ended at 76.92. While below wave ((i)) at 78.22, expect Oil to turn lower again in wave (c) of ((ii)) before it resumes higher. Near term, as far as 11.17.2023 pivot at 72.14 holds, expect pullback to find support in 3, 7, or 11 swing for further upside.

Oil (CL) 60 Minutes Elliott Wave Chart

Oil (CL) Elliott Wave Video

Source:-forecast.com/news/oil-cl-short-term-impulsive-structure-suggests-upside/

22/11/2023 1 EN

Provider

Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

See profile

Analysts

Daud Bhatti

Other Reports from Elliott Forecast

Eric Morera

Eric Morera

SPDR Industrial ETF ( $XLI) React From the Blue Box Area as Expected.

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Industrial ETF ($XLI) . The rally from 5.02.2024 low at $120.56 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below: 7 Swings WXY correction $XLI 1H Elliott Wave Chart 5.17.2024: Here is the 1H Elliott Wave count from 5.17.2024. We expected the pullback to find buyers at the blue box area at 124.65 – 123.80 in 7 swings. $XLI 1H Elliott Wave Chart 5.20.2024: Here i...

44m 44m 2 EN

Eric Morera

Eric Morera

BABA Stock: Forecasting the Rally from the Equal Legs Area

Hello fellow traders. In this technical blog we’re going to take a quick look at the of BABA Stock, published in members area of the website. As our members know we have been forecasting the long side in Baba Stock in short term. Recently,we got a pull back that has made a clear 3 waves pull back that found buyers right at the equal legs area. In the further text we are going to explain the Elliott Wave forecast BABA H1 Midday Update 5.14.2024 Baba stock ended cycle from the 67.58 low as 5 waves structure. The stock is currently giving us pull back against that low. Equal legs area is al...

51m 51m 2 EN

Eric Morera

Eric Morera

Elliott Wave Expects Silver (XAGUSD) Pullback to Find Support

Elliott Wave Expects Silver (XAGUSD) Pullback to Find Support May 17, 2024 By Short Term Elliott Wave in Silver (XAGUSD) suggests the metal rallies in impulsive structure from 10.3.2023 low. Up from there, wave (1) ended at 25.91 and dip sin wave (2) ended at 21.94. The metal then extended higher in wave (3) towards 29.79. Pullback in wave (4) ended at 26.02 as the 1 hour chart below shows. The metal has resumed higher in wave (5). Internal subdivision of wave (5) is unfolding as a . Up from wave (4), wave ((i)) ended at 27.51 and pullback in wave ((ii)) ended at 26.99. Silver then e...

May 17, 2024 May 17, 2024 1 EN

Read more reports

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?