WTI Crude Oil is ready to pop! Drop to $20 is incoming!!!
Tomorrow's OPEC+ meeting will be a disappointment. Atleast thats what the chart is telling me. I predict Russia will not agree to extending the oil output cut, and that will start the crude oil waterfall, all the way down to $20 or more.
A 5 wave impulse wave to the upside is nearing its completion, followed by 3 wave A-B-C drop, I have marked the downward move approximation with arrows.
Corrective waves can be tricky, so we'll have to see what kind of correction we get. My assumption is 5-3-5 waves to the downside.
NEVER trade oil without proper risk management or you'll blow up your account.
Goodluck boys, and this is just my prediction. Nobody knows for sure what the outcome of tomorrow's meeting will be.
Please "LIKE" my trading ideas, comment on them, follow my account. I will be frequently posting quality analyses based on Elliott wave theory, chart patterns, trend analysis and fundamental analysis.
Thank you for your attention. Don't forget to check my other charts on forex pairs & metals.
ADIOS.
A 5 wave impulse wave to the upside is nearing its completion, followed by 3 wave A-B-C drop, I have marked the downward move approximation with arrows.
Corrective waves can be tricky, so we'll have to see what kind of correction we get. My assumption is 5-3-5 waves to the downside.
NEVER trade oil without proper risk management or you'll blow up your account.
Goodluck boys, and this is just my prediction. Nobody knows for sure what the outcome of tomorrow's meeting will be.
Please "LIKE" my trading ideas, comment on them, follow my account. I will be frequently posting quality analyses based on Elliott wave theory, chart patterns, trend analysis and fundamental analysis.
Thank you for your attention. Don't forget to check my other charts on forex pairs & metals.
ADIOS.