WTI Crude Oil Commodity Elliott Wave Technical Analysis

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=kbZwE879qvE

Join 1 month Get 3 Months Click here https://tradinglounge.com/341 • 7 Analysts Over 200 Markets Covered. • WTI Elliott Wave Analysis • WTI Crude Oil is breaking out of a 15-month period of sideways, choppy price action and appears poised to make a new low, potentially reaching levels unseen since late 2021. This breakout is part of a broader long-term bearish phase that began in March 2022, when WTI peaked near $131. As the bearish trend resumes, the question arises: how low can this leg of the decline reach? • Long-Term Chart Analysis • In the long-term view, WTI entered a bearish corrective phase in May 2022 after reaching $130.91. This corrective phase follows a powerful bullish impulse that began after the COVID-19 crash, which saw oil prices recover sharply to their highest levels since the 2008 global financial crisis. The ongoing bearish correction is unfolding in the form of a double zigzag pattern, a complex Elliott Wave structure commonly seen in extended corrections. • Daily Chart Analysis • On the daily chart, the triangle that formed as part of wave X (circled) was a consolidation pattern, and the breakout confirms the beginning of wave Y (circled), the final leg of the double zigzag correction. The downward momentum is likely to accelerate as wave Y progresses. Traders and analysts will closely monitor the smaller waves that compose wave Y (circled) as they unfold over the coming weeks and months. • H4 Chart Analysis • The H4 chart provides further insight into the early stages of this new bearish wave. The breakout structure appears to be an impulsive decline for wave A of (A)/(W) of Y (circled), signaling the start of a new downward leg. After the completion of wave A, the market is likely to experience a corrective bounce for wave B before resuming its decline. This presents an opportunity for short-term and medium-term traders to sell into the bounces, as the broader bearish trend remains intact. • Technical Analyst : Sanmi Adeagbo • Join 1 month Get 3 Months Click here https://tradinglounge.com/341 • 7 Analysts Over 200 Markets Covered. • TradingLounge Services: • Elliott Wave Analysis • INDICES - SECTORS - STOCKS - COMMODITIES - CRYPTOCURRENCIES - CURRENCIES • • Charts: • US Sectors ETFs: Weekly and daily charts. Analyst: Peter Mathers • 50 US Stocks charts, updated weekly. Analyst: Alessio Barreta • 50 ASX Stocks charts, updated weekly. Analyst: Shane Hua (CEWA-M) • Cryptocurrencies: Daily and 4-hour charts Analyst: Kittiampon Samboonsod (CEWA) • Currencies: Daily and 4-hour charts Analyst: Malik Awais • Commodities: Charts covering Softs, Grains, Energy, Precious and Base Metals. Analyst: Sanmi • 20 Global Indices: Weekly and daily charts update. Analyst: Malik Awais • • Additional Services: • Trading Recommendations: Portfolios - StockCheck, CryptoCheck, ForexCheck, CommodityCheck • Chat Lounge: Access to TradingLounge Analysts, chat with other traders, upload charts and videos • Elliott Wave Algorithm: Automatic Elliott Wave counting tool • Elliott Wave AI: Offers Elliott Wave analysis for our AI modeling • Software Tools: TradingLevels, Screeners, Portfolios, Charting etc. • • Special Trial Offer - Buy 1, Get 3 Months Click here tradinglounge.com/341 • YOU CAN REACH ME via: • LinkedIn: / petermathers • Facebook: / tradinglounge • Twitter: / tradinglounge • Risk Disclaimer - This is not financial advice. • The material does not contain (and should not be construed as containing) personal financial or investment advice or other recommendations, or an offer of, or solicitation for, a transaction in any financial instrument. The information does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. TradingLounge accepts no responsibility for any use that may be made of these comments and for any consequences that result. • TradingLounge™ uses a range of technical analysis tools, such as Volume Analysis, TradingLevels, Elliott Wave, software, and fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. • The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership and social media platforms has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. • #elliottwave #commodities #investing #crudeoil #wti #oil

#############################

New on site