Oil - Crude (WTI)
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#oil bearish outlook

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It seems like the price has formed a 5-wave bullish impulsive move and could now begin its bearish move.

For the bearish move to be confirmed, we need to see the price breaking below the bullish channel line and also closing below the VWAP.

Bearish confirmations:

Bearish divergence in the 4H timeframe.
Completion of the 5-wave bullish impulsive move.
Momentum oscillator in overbought (OB) territory.

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Nota
Have you seen this beautiful Elliott wave analysis???
CommoditiescorrectioncorrectivewaveElliott WaveelliotwaveanalysisForexforexsignalsimpulsewaveoiltradingParallel ChannelSupport and Resistance

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