Crudeoil - Elliott Wave Analysis

by Dean Market Profile on Saturday, August 04, 2012 in Commodities, Crude

Weekly Chart

This is a weekly chart of Crudeoil / INR, this has been discussed earlier here. We are expecting a last gasp in Crudeoil / INR. A wave [5] of C of {Y} of (B). Once it is done we may see sharp correction in Crudeoil / INR, at least that's what preliminary analysis shows. Right now I am expecting Dollar to ease a bit, and we may see a rally in commodities, which will reflect in Crudeoil / INR. I am not putting a target on this wave [5] yet, but eventually we will get signs clear enough to adjust our positions according to the market. Right now I feel we should see a rally in Crudeoil / INR.

Daily Chart

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

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Saturday, August 04, 2012

Crudeoil - Elliott Wave Analysis

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