Are we looking at cheaper gas prices at the pump?
The first thing we need to do is verify that the D wave corrective rally is complete.
The Elliott Wave count looks complete. The sell-off has broken important support at $64, so all the momentum guys will be bailing out. We’re trading off below the 200 day moving average, with a retest. So the trend should be down. To confirm that the Cycle Magnitude c Wave (blue boxed) is complete, price action needs to break the trend line from the zero point up through the Cycle Magnitude b Wave (blue boxed). So that would be the last piece of confirmation. My guess is it may not be time to trade in my Expedition for a 'EV' just yet…
The Elliott Wave count looks complete. The sell-off has broken important support at $64, so all the momentum guys will be bailing out. We’re trading off below the 200 day moving average, with a retest. So the trend should be down. To confirm that the Cycle Magnitude c Wave (blue boxed) is complete, price action needs to break the trend line from the zero point up through the Cycle Magnitude b Wave (blue boxed). So that would be the last piece of confirmation. My guess is it may not be time to trade in my Expedition for a 'EV' just yet…
Trade fermée: cible de profit atteinte
Well!,... that was pretty decisive. The Cycle E Wave is definitely on! It's down side target is around $20. Expect a 61.8% bounce in here soon. That would be a good wave to load up the bus on. Happy Trading.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.