A small bounce to about 61.33 was expected to begin the week, and thereafter downwards movement was expected to continue and to show an increase in momentum. The bounce was more shallow than expected, reaching only to 59.69, but strong downwards movement fits the larger picture exactly.

Continue reading US OIL: Elliott Wave and Technical Analysis | Charts – May 31, 2019 →

Downwards movement was expected this week for US Oil, which is exactly what has happened.

Continue reading US OIL: Elliott Wave and Technical Analysis | Charts – May 24, 2019 →

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.

Continue reading US OIL: Elliott Wave and Technical Analysis | Charts – May 17, 2019 →