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| Crude Weekly |
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| Crude Weekly Indicators |
EW Perspective
Crudeoil broke below all important B-D trend line. If our count is correct, we should see sharp falls in Crudeoil in near future, since we have completed a terminal pattern (triangle) in wave {Y} of (B).
Technical Indicators
RSI - On the above chart shows a contracting formation, synonymous with a triangle. RSI has been oscillating about the zero level, with decreasing amplitude, if we see a convincing break below the B-D trend line, RSI may sport a zone shift from the bullish to bearish.
ROC - ROC has formed a huge bearish divergence, chart attached below, with contracting formation towards the more recent price action. Since the completion of wave D, ROC has been listless, a break below the lower boundary on ROC chart will signal further fall in prices.
MACD - MACD tells the same story, contracting action around the zero line. If MACD starts moving below the zero line and sustaining then we are sure to see bigger falls in crude.
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