At the last days of September our Elliott Wave analysis for OIL suggested that we were doing double three corrective structure from the 89.56 low. The analysis was calling for more strength toward equal legs area (95.05-96.15) to complete wave ((B)) recovery, before further decline takes place in next bearish cycle – wave ((C)). Let’s […]

Copper Futures (HG_F ) are bouncing after completing 7 swings down from 10.29 high but our preferred Elliott Wave count suggests down side is far from over and this is just a corrective bounce. Elliott Wave cycles remain bearish against 3.113 high and we view rallies as a selling opportunity in 3, 7 or 11 swings […]

Oil completed ((B)) @ 94.88. As per preferred Elliott Wave view, we have seen a 3 wave decline to 88.18 which completed wave W. Oil is now bouncing to correct the drop from 94.88 high. This bounce could test 50- 61.8 fib (91.54 – 92.34) area before decline resumes again. We don’t like buying Crude Oil […]

Preferred Elliott Wave view suggests Oil completed ((B)) @ 94.91. Cycle from 94.91 has concluded at 90.86 which completed wave (( a )) of the new down cycle. Oil has tested 50 back of the decline from 94.91 and has seen a sharp rejection, we believe wave (( b )) has completed at 92.94 and an […]

Preferred Elliott Wave view suggests rally to 103.46 completed a corrective (( B )) wave  and Crude Oil futures are now expected to trade lower. Short-term price action suggests wave A ended at 100.42 and shallow recovery to 101.69 was wave B. This gives C = A target of 98.58 which has been reached already. […]

Wave A completed just 1.236 ext of (( a )) – (( b )) and we got the 3 wave pull back that we were anticipating. Metal has hit 61.8 fib retracement of wave A and has enough number of swings in place to call wave B completed. Thus, as per preferred Elliott Wave view […]