Medium Term Crude Resistance
Just a little resistance in the form of Fib ratio and negative RSI divergence. Rolling 1st month 4 hr. bar click to enlarge
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Long Term WTI Counts Suggests Bottom Near
The Elliott Wave count I have on the long term monthly chart has very strong fib relationships and structure suggesting a high probability low either at 19.55 or 18.25. The chart reveals a pattern that can be described as either an ABCDE declining triangle with the expected fib relationships between the legs, or alternately if the structure is a simple ABC the C = 50% of A at 19.55 click to enlarge Daily While not shown on the above chart there is repeated Pos divergence on the RSI.