7 thoughts on “US OIL Elliott Wave Technical Analysis – 14th November, 2014 – Chart Only

    1. I’m wondering about US Oil too. This market has been my nemesis for a few weeks now. It keeps falling through targets.

      It looks like this drop could be a typical commodity spike for a fifth wave…. but I thought that had happened over a week ago.

      I’m struggling with the labelling of that last wave… there is too much overlapping. Which usually indicates its not done and should keep going down.

        1. An extending fifth wave is my best guess.

          Its hard to see when they end. Commodities are tricky like that.

          While it remains within a downwards channel, assume the trend remains the same. Down.

  1. Lara how often do you update Oil chart? I am interested in oil as well because it has less volatility compared to Gold.
    Plus I noticed wave (4) was marked slightly prematurely before a turn (IMO). Two days later the turn came. That would have been perfect to short oil for wave v impulse.

    Great job on Oil counts. It has been working very well since the top 107.
    My request is to post a oil chart once a week???? Thanks.

  2. Oil wave count worked fine. I was ready to short oil when it hit 77.83. Then I saw your post invalidating wave count if oil went higher than 77.13. I missed out on this trade. I will get back on back test of breakout where should be a wave back up ????? I think your count of oil going to 53 and below is on right track. Please update the oil chart. PM is tough but oil works well.

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