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 […]

Metal has broken higher from wave (( b )) triangle and while above 21.59, expect another push higher toward 22.74 – 23.01 area to complete a cycle from 20.59 low after which metal should pull back at least in 3 waves. Hourly cycles are negative but we don’t like selling the metal unless of course […]

Expect marginal new highs to 105.00 to complete wave A as a FLAT. This should result in a wave B pull back  and further strength toward 106.67 – 107.99 to complete wave ( B ). Hourly cycles are negative but we don’t recommend selling in wave B as more upside would be expected after that. […]