Another upwards day was expected by both Elliott wave counts.
Price has continued to move higher as was expected for the session by both Elliott wave counts.
A downwards swing was expected, but it was much more shallow than the target.
A little more downwards movement was expected to a target at 1,266. Price did move lower, but did not make a new low and has fallen $2.34 short of the target.
Downwards movement continued as expected for Tuesday. The target at 1,275 was passed and price remains above the invalidation point on the hourly chart and still within the channel.
More upwards movement was expected for Oil for the week. This is not what happened. A pullback remains just above the invalidation point on the main Elliott wave count.
Downwards movement has unfolded as expected for Monday’s session.
Price was expected to fall for Friday, but it moved slightly higher.
The target at 1,279 was expected to be a little low. A trend line higher up was expected to halt upwards movement. However, this is not what has happened, and the trend line is overshot.
The main Elliott wave count is changed today.
A pullback continued as expected from last analysis.
Upwards movement was unexpected and has invalidated the Elliott wave count at the hourly chart level.
A short term target for Tuesday was 1,247. The low for the session fell $5.39 short of the target, after a whipsaw took out the short term invalidation point on the hourly Elliott wave chart.
More upwards movement was expected for the week for US Oil. Price has moved sideways, remaining above the invalidation point on the daily Elliott wave count.