US OIL ELLIOT WAVE COUNTS AND BREAKOUT

6 בנוב׳ 2022

Crude oil is looking Bullish ahead Reasons are mentioned below

Inverted head n shoulder Neckline Breakout


Price taking support from RK's Mass psychological cloud and RK's stopline in daily time frame


Possible wave counts on weekly chart


Possible wave counts on Daily chart


Possible wave counts on 4 hourly


Possible wave counts on 1 hourly


Price challenging upper band on daily time frame


macd positive cross in daily time frame


macd converging towards north uptick in weekly time frame


RSI uptick above 60 in daily time frame


DMI ADX positive uptick in daily time frame


Price closed above 50dema, 100dema & 200dema


Weekly close above 20WEMA, its also above 50 WEMA, 100 WEMA & 200 WEMA.


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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.