US OIL Elliott Wave Technical Analysis – 13th December, 2017

Another sideways week remains within the Elliott channel and above the invalidation point. Summary: The target has been recalculated. Now the target for upwards movement to end is 59.65 to 61.42. There has been some weakness, and that continues, and indicators are...

US OIL Elliott Wave Technical Analysis – 14th November, 2017

Last analysis expected a sideways consolidation to last about eight sessions. Price has moved sideways and lower for the last four sessions. Summary: As long as price remains above 52.86, then expect this consolidation may be over here or very soon. The target for...

US OIL Elliott Wave Technical Analysis – 7th November, 2017

The main Elliott wave count expected more upwards movement. Price is above 55.24, so the main Elliott wave count is the sole wave count left. The target has not yet been met. Summary: A sideways consolidation about here may develop, which may last about 8 sessions....

US OIL Elliott Wave Technical Analysis – 30th October, 2017

A classic upwards breakout was seen two days ago. The main Elliott wave count is changed. The alternate Elliott wave count remains the same. Summary: Look for upwards movement to continue now until about 61.42. For the very short term, look for price to curve back...

US OIL Elliott Wave Technical Analysis – 23rd October, 2017

A very small range weekly candlestick has moved price sideways and very slightly higher. Summary: A downwards breakout is still expected. Expect resistance about 52.90 and support about 49.10. The target for the next wave down is at 15.38 or 13.00. This target is some...

US OIL Elliott Wave Technical Analysis – 10th October, 2017

A breach of the channel on the 4th of October on the main daily Elliott wave count indicated a deeper pullback was most likely underway. Thereafter, price has moved lower as the alternate Elliott wave count expected. Summary: Oil may have had a trend change. The next...

US OIL Elliott Wave Technical Analysis – 5th September, 2017

Price continues to find resistance at the wide channel on the monthly and weekly charts. Summary: Expect a new strong wave down has begun. Target 34.34. Stops may be set just above the invalidation point at 50.22. Invest only 1-5% of equity on any one trade. In the...