US OIL Elliott Wave Technical Analysis – 20th May, 2015

Chart only today. To see a thorough analysis go here.

Summary: The small fourth wave continued sideways as a double flat. The target is slightly recalculated to 64.39.

Click charts to enlarge.

US Oil Elliott Wave Chart Daily 2014

At 64.39 minuette wave v would reach 0.618 the length of minute wave i.

5 thoughts on “US OIL Elliott Wave Technical Analysis – 20th May, 2015

  1. Lara, can you confirm if oil has completed a minute iv wave?
    Regular TA shows me it is in descending triangle reaching only to .1414 Fib. But I can not do the E.W. I trust your E.W. because I have seen the outcomes over the years. Thank you for looking at this.

    (P.S.
    Since Gold has become a monster to analyze – and may be in large cycle b wave- and you’ve stated oil is acting more predictably, have you considered doing oil more regularly? Other traders might enjoy the predictability too)

    1. woops, meant .236% Fib, of March 18 – May 6 incline– was looking at wrong chart

  2. Bot UCO. oil trip to 66-68. I think the 5th wave may overshoot. Hopefully then lara will provide update then we can buy and hold SCO and DWTI. HeHeHeHe!!!!

    It is a island bottom. gaps on both side. Best chart pattern for long.

    Thanks Lara great work.

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