kolioo77 / Blog
As Supply Drop concerns in Suadi arebia ,Eillote wave analysis ,the price may rise towards corrective Wave c $55.00 Moving in Wave iv ,leads to move downside Wave v @ $35 which will be lowest price for $oil this year...
Recently statement from fed member lockchart still looking to rise rate ,may strength doller for long or short term...
According to Elliote the traders are intereacted with Optimism and premission ,headlines in newswires or Economic indicators ,The Dj newswire is now globally adopted covering all political,geo-political,and economic events ,U.s stocks .traders should interpret such news properly...
Japanese candlesticks provide price action analysis provides important supports and resistances before news impact. where traders mostly reacted in past trades...
Elliote Analysis are now mostly adopted by professions world wide to predict the possible market movements in future . knowing only corrections wave patterns now trader can analysis Global markets...
Daily Cadlesticks provide important trading informations as most of the reversal patterns fails can be used as timing for entery when hammer fails its drop more downside ,acting as support ?resistance levels and break out levels showing by drawing horizontal lines...
Possible Parice pattern for next week breakout will bring more upside will confirm start of Wave 5 ..towards $63 where Price will tend to drop after U.S supply news...
Amid high Supply news around headlines prices still look for upside in hopes more supply will rise at high prices so traders look to sell at maximum high prices for next cooming months...
Crude oil touching the Bottoms forming Bullish wedge expected to complete @ $43 ,Breakout upside will bring higher prices towards $46 to $51...
Look ELLIOTE WAVE BOOK Contains following topics only important for a trader - 1.Wave Analysis - 70% 2.Chart Pattern Analysis-20% 3.Trendline Analysis-5% 4.ABCD Harmonic Pattern analysis-1...