Oil has bounced strongly after finding support @ equal legs (102.18) and shorter cycles are calling for further strength ahead as long as price is above 105.54 low. Short-term price action is taking the form of a triangle and is valid as price stays above 106.60 low Now you can try the best Elliott Wave […]

Metal is showing 5 swings up from 19.13 low which makes 20.06 the connector wave ( b ). Expect another push higher toward 21.55 (1.236 ext) to complete wave (( a )) before metal pulls back in wave (( b )) and trades higher again.

Expect some further strength to complete a double corrective structure for wave X before the metal turns lower again. There is strong confluence of resistance between 3.25 – 3.27 and ideally price should stay below 3.35 but only a break of 3.42 would negate this wave count.

Expect some further strength to complete a double corrective structure for wave X before the metal turns lower again. There is strong confluence of resistance between 3.25 – 3.27 and ideally price should stay below 3.35 but only a break of 3.42 would negate this wave count.

A cycle is coming to an end and expecting at least a temporary peak to form soon. Break of 106.12 will add more conviction to this view. We don’t like selling Oil until it shows a clear 5 wave decline from the high.

Metal is still correcting the entire decline from 3.42 peak. 50 fib (3.20) has been tested but another leg higher 61.8 fib (3.25) is still expected to complete wave X before the  red metal turns lower again.