Elliott wave Analysis: Crude oil Can Face Limited Downside

Hi traders,

Crude oil can still be trading within an extended wave v of 5, while it's trading within channel range, so watch out for the next support around 58.50 58.00. A later break above the channel resistance line would indicate a temporary low in place and a bigger recovery to be in progress.

Visit us at www.ew-forecast.com for more free charts, and daily updates. Also check our latest offer 14day trial for FX or CRYPTO service.

Crude oil, 1h

oil, intra