Since June 9/2016, Oil was correcting lower and we advised our members on August 1/2016 that the Elliott Wave cycle lower can be coming to an end and to start looking for BUY positions in the inflection zone (Blue box). Below are the charts that our members had access to which clearly shows that we expected Crude Oil to find a bottom and resume the move higher.
OIL August 1/2016 : Advising members the cycle starting June 9/2016 will be terminating and to start looking for Longs
OIL August 27/2016 : Oil found a bottom and bounced higher and we continued advising our members to look for BUYS on the retrace/pullback with stop loss now at the 39.15 invalidation level.
OIL September 10/2016 : Oil bounced higher on September 1/2016 but based on the structure of the bounce we believed that it can still make another push lower and again advised our members to continue buying on the dip.
OIL September 22/2016 : Oil made another push lower where it met more buyers and pushed price higher. We advised members that if price breaks above the descending trend line Oil will continue higher.
OIL October 10/2016 : Oil has pushed higher like we have been calling for since August 1/2016 and approaching the next target zone (Blue box).
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