Crude Oil Remains Bearish, Looking To Retest 2023 Levels
Feb 5, 2024


Crude oil made only three waves up over the last few weeks, which indicates for an A-B-C correction within downtrend. It actually retraced into golden 61,8% Fibo. and 80.00 area from where market turned down and now pointing lower, possibly back to the 2023 lows if the channel is broken. So, energy can see more weakness as latest latest 4h structure looks bearish for 68 and then even for 60 area if December low is out.

Crude Oil Remains Bearish, Looking To Retest 2023 Levels Crude Oil Futures 4H Chart
Crude Oil Futures 4H Chart

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register here (Limited-Special 2 for 1 Offer available)

ALTcoins May Face Further Rally. Check our blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.