Break below 1306 confirms wave (( b )) has completed @ 1351. While below 1312 – 1322 expect 2 more lows to complete a 5 wave decline from 1351 peak. Focus is at 1265 and if exceeded , we could even reach 1246 If you would like to receive frequent , timely updates, stay on […]

Recent price action suggests wave B has completed as a FLAT @ 1376.  Wave (( a )) was a 5 wave move and while above 1318.40, expect a test of 1351 – 1358 to complete wave (( b )) before metal turns lower again. Hourly cycles remain negative and hence we don’t like buying the […]

Oil is trading around equal legs and a recovery in wave ( B ) is expected pretty soon toward 107.20 (50 fib) – 109.38 (61.8 fib) area in the wave ( B ) before Oil turns lower again. Hourly cycles are still negative but above 103.99 will confirm wave ( A ) low is in […]

Recent price action suggests wave B has completed as a FLAT @ 1376. Wave (( a )) was a 5 wave move so while above 1306, expect another push higher toward 1340 – 1348 to complete wave (( b )) and a bearish 5-5-3 setup. Expect failure there to result in new lows toward 1246 […]

Recent price action suggests wave B has completed as a FLAT @ 1376. Wave (( a )) of C is thought to be complete now we expect a 3 wave pull back toward 1340 – 1348 followed by lower prices toward 1246 (equal legs) in wave (( c )) of ( B ). Hourly cycles […]

Preferred view suggests price action from 106.40 – 109.00 was FLAT wave (( b )) and Oil is currently trading lower in wave (( c )) toward 102.58 (equal legs) target which would complete cycle from 110.70 and 112.25 highs and result in a bounce higher.  We don’t like chasing weakness at current levels as […]