Short term Elliottwave structure suggests that rally from 35.23 on 4/5 remains alive as a triple three where wave W ended at 42.42 on 4/13, wave X ended at 37.61 on 4/18, wave Y ended at 44.49 on 4/21, and 2nd wave X pullback is proposed complete at 42.51 on 4/28.  Near term, while dips stay above 42.51, oil is favored to resume higher in wave […]

In our article dated Dec 13, 2015 titled “What OPEC decision means to Oil and $USDCAD” we wrote about the oil revolution; the rise of shale oil producers from North America and the OPEC cartel trying to fight against this threat by flooding the market with conventional oil to fight for market share and also drive […]

Short term Elliottwave structure suggests dips to 35.98 on March 15 ended second wave ((X)). Rally from there is unfolding in a zigzag structure where wave (A) ended at 41.2, wave (B) ended at 38.62, and wave (C) is in progress higher as 5 waves. While pullbacks stay above 38.62, Oil is expected to continue higher in wave […]

Short term Elliottwave structure suggests rally to 15.953 ended wave (3). Wave (4) pullback is unfolding as a triangle where wave A ended at 14.89, wave B ended at 15.57, and wave C is currently in progress. Internal of wave C is unfolding as a double three where wave ((w)) ended at 15.15, wave ((x)) ended at 15.318, and wave […]

Short term Elliottwave structure suggests rally to 15.953 ended wave (3). Wave (4) pullback is unfolding as a triangle where wave A ended at 14.89, wave B ended at 15.57, and wave C is currently in progress. Internal of wave C is unfolding as a double three where wave ((w)) ended at 15.15, and wave ((x)) bounce is expected to […]

Revised short term Elliottwave structure suggests rally to 15.953 ended wave (3). Wave (4) pullback is unfolding as a triangle where wave A ended at 14.89, and wave B is currently in progress. Internal of wave B is unfolding as a double three where wave (w) ended at 15.3, and wave (x) ended at 15.13. While above this level, the […]