Recent price action suggests wave B has completed as a FLAT @ 1376.  Wave (( a )) was a 5 wave move and while above 1318.40, expect a test of 1351 – 1358 to complete wave (( b )) before metal turns lower again. Hourly cycles remain negative and hence we don’t like buying the […]

Oil is trading around equal legs and a recovery in wave ( B ) is expected pretty soon toward 107.20 (50 fib) – 109.38 (61.8 fib) area in the wave ( B ) before Oil turns lower again. Hourly cycles are still negative but above 103.99 will confirm wave ( A ) low is in […]

Recent price action suggests wave B has completed as a FLAT @ 1376. Wave (( a )) was a 5 wave move so while above 1306, expect another push higher toward 1340 – 1348 to complete wave (( b )) and a bearish 5-5-3 setup. Expect failure there to result in new lows toward 1246 […]

Daily Technical Video from 9.17.2013 for our clients in which we talked about what the market should do following FOMC release [jwplayer mediaid=”116244″]