BIGGER PICTURE OF CRUDE OIL ---- ELLIOT WAVE
CRUDE OIL HAS BEEN IN CORRECTIVE MODE SINCE JUL 2008.
I HAD 4 HURDLES FOR CRUDE OIL TO BREACH ITSELF TO GO TOWARDS ITS LIFE TIME PEAK....BY THE TIME I MPOSTTING THIS...ITS ALREADY THROUGH WITH THE 3RD HURDLE.....
CASE 1:
IF CRUDE OILS UNFOLDS INTO MOTIVE WAVE SEQUENCE(1-2-3-4-5) AND ALSO BREACHES KEY LEVEL FOR BULLS AND BEARS....IT MAY RESULT IN POSITIVE STRUCTURE FOR CRUDE OILS...BULLS WILL BE MORE COFIDENT THEN ON....WILL UPDATE THEN ABOUT ENTRY OPTIONS FOR TRADERS...BUT THIS SCENARIO IS NOT GOOD FOR ECONOMIES IMPORTING CRUDE OIL....
CASE 2:
IF CRUDE OIL FAILS TO BREACH THE KEY LEVEL FOR BULLS AND BEARS....BEARS MAY START SMELLING HONEY IN CRUDE !
AS OF NOW BULLS PARTY IS ON....
CRUDE OIL HAS BEEN IN CORRECTIVE MODE SINCE JUL 2008.
I HAD 4 HURDLES FOR CRUDE OIL TO BREACH ITSELF TO GO TOWARDS ITS LIFE TIME PEAK....BY THE TIME I MPOSTTING THIS...ITS ALREADY THROUGH WITH THE 3RD HURDLE.....
CASE 1:
IF CRUDE OILS UNFOLDS INTO MOTIVE WAVE SEQUENCE(1-2-3-4-5) AND ALSO BREACHES KEY LEVEL FOR BULLS AND BEARS....IT MAY RESULT IN POSITIVE STRUCTURE FOR CRUDE OILS...BULLS WILL BE MORE COFIDENT THEN ON....WILL UPDATE THEN ABOUT ENTRY OPTIONS FOR TRADERS...BUT THIS SCENARIO IS NOT GOOD FOR ECONOMIES IMPORTING CRUDE OIL....
CASE 2:
IF CRUDE OIL FAILS TO BREACH THE KEY LEVEL FOR BULLS AND BEARS....BEARS MAY START SMELLING HONEY IN CRUDE !
AS OF NOW BULLS PARTY IS ON....