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 […]

Oil has dropped to new lows below 95.93 further confirming the idea that 98.83 was the end of wave B. Decline from 98.83 looks like a 5 wave with a wave ( iv ) triangle. Expect a pull back in wave ( b ) toward 97.50 from where Oil should turn lower again. Hourly cycles […]

Oil is nearing completion of a cycle from 104.37 peak which would complete 5th swing down from 112.25 peak. As Oil avoids aggressive weakness below 95.97, expect a pullback in wave B toward 100.00 – 101.00 area from where Oil should turn lower in 7th swing. Hourly cycles remain negative so we don’t like buying […]

Oil has turned lower after completing wave ( b ) @ 102.50. Expect a test of 99.60 – 100.37 to complete wave A after which Oil should correct the entire drop from 104.37 and trade lower again. We don’t like chasing weakness at current levels as cycle from 104.37 would be ending soon and we […]

Oil has broken below 101.06 low suggesting rally to 103.59 was wave (( b )) and we should be completing 5th swing soon after which Oil should make a pull back in wave ( b ) and trade lower 1 more time to complete 7 swings down from 104.37 peak. Hourly cycles are negative so […]