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.
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At 64.39 minuette wave v would reach 0.618 the length of minute wave i.
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.
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)
woops, meant .236% Fib, of March 18 – May 6 incline– was looking at wrong chart
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.
Possible buy and long-term hold when it hits 64?