Metal is trading in orange zone and showing enough number of swings in place to call wave A completed but another swing higher to 3.33 would look much better to complete wave A. After that metal should pull back in wave B and turn higher again.  Hourly cycles are positive so we don’t recommend selling […]

After completing wave (( b )) at 3.16 metal turned higher impulsively and looks to have completed wave ( a ) of (( c )) as a  5 wave move. Wave ( b ) proved to be shallow and metal is already trading higher in wave ( c ) toward 3.298 – 3.33 area to […]

Metal is correcting the weekly cycle from 2008 lows. It did get very close to 50 fib retracement (2.949) but didn’t fully test it. Also, metal is showing 5 swings lower from the high of red wave “a” and is currently in blue wave ( B ) pull back. Once completed, metal should turn lower […]

Wave ( X ) completed @ 3.278. Expect an intra-day pull back followed by a new low toward 3.13 – 3.14 region to complete 1st leg of the triangle thrust after which metal should correct the decline from 3.278 in 3 waves. We don’t like buying into proposed wave ( x ) pull back.

Wave (( X )) low appears to be in place at 93.07 and wave ( b ) is taking the form of a triangle which is valid above 93.80. While above 93.80 and more importantly 93.07, expect more upside in the instrument toward 96.21 – 96.78 from where we could see another 3 wave pull […]

Oil has dropped to new lows below 95.93 further confirming the idea that 98.87 was the end of wave B. Expect a test of 93.20 – 93.50 to  complete wave (( a )) before Oil pulls back in wave (( b )) and trades lower toward 91.25 to complete wave (( X )). Hourly cycles […]