Why I was correct in anticipating MCX Crude Oil (Elliott Wave Forecast)

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MCX Crude Oil 28th January 2020 (Anticipated)


MCX Crude Oil 11th February 2020 (Happened)


From the above chart I was continuously saying when Crude oil price was trading above 4000-4100 that it will falter near till 3500. Well we will not go in depth but I can relate with the recent move from 28th January where Crude was trading at 3770-3800 levels and I had forecasted that it will tumble till 3500. Here is my YouTube channel link where I had mentioned, click on the link to view the video


Now it is imperative for rices to break the level of 3500 which is the trend line support as see the the above chart, once this breaks there is a high possibility for prices to move down till 3000 levels.
As per wave theory, the black gold is moving in wave (c) of wave b, wave c can move close to wave a which is near to 3000 levels.

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Comments

Phani Kumar said…
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
Alna Trading & Exports Ltd

18 July 2020 at 15:59
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