Live Stream: "Crude Oil: Elliott Wave Weekly Analysis", 11 April 2020
This is a recording of the second part of the Live Stream I made at 9.30 PM EST on Saturday, April, 11, 2020.
In this video I explain that Crude Oil has been declining since the top made in 2008 in a macro [ A ]-[ B ]-[ C ] down corrective structure. Crude has been in the final decline of macro wave [ C ] down off the top made by wave [ B ] up made at 141.73 made in May 2011.
The final wave [ C ] down should have an impulsive structure and subdivide into wave waves labelled as ( 1 ), ( 2 ), ( 3 ) , ( 4 ) and ( 5 ).
The bottom made at 20.52 on March 18, 2020 looks like wave 3 of ( C ) of ( 5 ). That means Crude does not have a completed structure of the drop. It can rally in subwave C of wave 4 down but then it may drop once again in the very final wave 5 of ( C ) of ( 5 ) to a new lower low under $19.00.
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