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#1 tsharp

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Posted 16 January 2021 - 02:50 PM

WTI CRUDE WEEKLY CHART UPDATE

With the price of crude dropping lower than I was looking for (a year ago), I needed to do more research and revise my fractal interpretation on WTI Crude...

This chart is my current revised fractal interpretation for WTI Crude on the weekly chart with my momentum indicator setup at the slow setting...

 

 

CL-W-01-15-21.jpg

This is as much history as I can get in any of my charting applications, though the second two charts show the price of crude back to the 1940s (second one inflation-adjusted), so the peak in 2008 was either a WAVE:ONE or WAVE:THREE, which makes this corrective fractal a WAVE:TWO or WAVE:FOUR...

That said, it seems a Wave-c:B is in progress now, with a potential target range in the 100-110 range, then a five-segment fractal down to possibly the ~30 range would complete the corrective fractal... watching.

 

CL-M-01-15-21-LT-1.jpg

 

CL-M-01-15-21-LT.jpg



#2 linrom1

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Posted 17 January 2021 - 11:30 AM

Technically when price went negative, it made the whole oil advance since inception, an expanding ABC flat.



#3 Rogerdodger

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Posted 19 January 2021 - 01:58 AM

One month ago:

 

Frackin to stop, OIL surges!

Started by Rogerdodger, Dec 18 2020

You might as well buy some oil stocks as a hedge against what's coming!

 

2 hours ago:


Edited by Rogerdodger, 19 January 2021 - 02:01 AM.