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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • CRUDE OIL: Price Is Testing November Trend-Line; Break Opens Door For $83 0 comments
    Apr 15, 2013 6:09 AM | about stocks: CRUD

    OIL fell sharply lower in February and made an overlap with 89.68 level and invalidated our previous bullish impulsive count. As such, if recovery from November 2012 low was not impulsive then can be only corrective because of three wave movement, labeled as (a)-(b)-(c) up to 98 zone. Well, the interesting thing is that decline from 98 was also in three waves with 90.27 overlap, which was probably wave X, part of a double zig-zag in red wave B) that now appears complete around 97.80 after latest sharp decline towards the lower side of a corrective channel. We expect more weakness from here and ideally towards 83.00 zone.

    For more detailed analysis on oil please see the video below, published on April 5th.

    Trade well!

    (click to enlarge)

    Stocks: CRUD
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