Throughout decades, Elliott Wave has proved the unparalleled power it has over any other discipline or indicator in the market. And good example of it would be Crude Oil. Recently, we have seen aggressive moves in Oil market, while we managed to capture most if waves of it – we would like to show you what we said about Crude Oil last week – you can visit whole article here https://wavetraders.com/blog/oil-drops-after-trump-signals-iran-talks-as-market-eyes-key-resistance-mar-27-2026/
“In our view, we are now in the middle of a higher degree A-B-C decline, therefore, this weakness should resume AFTER wave B is completed, but for now we are still in a intraday corrective recovery phase. So we think that much more important resistance is seen around 104 to 107, and possibly even up to 110, which also aligns with the 78.6% Fibonacci level”
As the CME opened this week, we were seeing a nice follow through on Crude and we offer you the latest analysis here:
“Crude oil rallied from 75 on March 10th in what looks like a minimum three-wave recovery, as discussed in our previous updates. Now, looking at the updated wave structure, price is already back above the 100 level and testing the previous wave “a” high, which means it has entered a key reversal zone. So we could see a new turn lower from this area, possibly already this week. From an Elliott Wave perspective, we are looking for a strong reversal lower while price remains below 120.
Such a move could support other markets, especially stocks, while the dollar may slow down.
Also, make sure you join our webinar today – we will cover all markets
Become a premium member
Get daily Elliott Wave updates for US Single Stocks, SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.
