My attempt at Elliot wave on UKOIL (Brent)
Commentaire:
Wave 3 Complete?
Wave 3 started to show divergence at 43.6 and actually came down a bit. Then Saudi Arabia and Russia announced that they agreed on the Prod vol freeze...tough luck for me.
Still at 2 times Fibo level is 44.71 so we are in play for wave 4 to come down to 42.4 or 41.69 ..i am not sure where so look carefully
Also: Correction: I said that Opec/Non Opec meeting is today...wrong...it is actually on Sunday 17 April
There is a lot of expectations for meeting but I cannot see Russia, Saudi, Irak, Iran and the big question? Will American oil come back? So will they agree? In the mean time use the Price Action to bag the pips
Wave 3 started to show divergence at 43.6 and actually came down a bit. Then Saudi Arabia and Russia announced that they agreed on the Prod vol freeze...tough luck for me.
Still at 2 times Fibo level is 44.71 so we are in play for wave 4 to come down to 42.4 or 41.69 ..i am not sure where so look carefully
Also: Correction: I said that Opec/Non Opec meeting is today...wrong...it is actually on Sunday 17 April
There is a lot of expectations for meeting but I cannot see Russia, Saudi, Irak, Iran and the big question? Will American oil come back? So will they agree? In the mean time use the Price Action to bag the pips
This is a normal Fibo for wave 3 to travel
Nearly nearly
Careful as tommorrow is Opec/Non opec meeting which could take us either way