Downwards movement was expected this week for US Oil, which is exactly what has happened.
An upwards week sees price remain below the invalidation point. Volume analysis is relied upon heavily this week to indicate the direction for next week.
Two main Elliott wave counts are published today. Confidence and invalidation points will be used to indicate which is correct.
Again, price continues lower as the Elliott wave count expected for this week.
Downwards movement has unfolded for the week as expected.
A little more upwards movement was expected for the week.
The weekly candlestick forms an important pattern, and the daily volume profile supports it.
Downwards movement continues as the larger picture for the Elliott wave and technical analysis expects for Gold. Targets remain the same.
A very small range week moves price mostly sideways. The Elliott wave count remains the same.
Again, upwards movement continued to reach 1.01 above the target for the week.
Upwards movement continued as expected for the week and has almost reached the target. The Elliott wave structure is almost complete.
A little upwards movement was expected. After a slight new low price has turned and moved higher.
The short-term Elliott wave count remains mostly the same but the short-term target is recalculated.
Last week’s analysis expected a bounce to continue for US Oil. An outside week closes green and price remains within the channel on the daily chart.
The bounce continues towards the target as expected.