Category Archives: Energy

Crude Oil

Bullish View :

Oil still continued to rise in Minute-degree third wave of a first portion in uptrend.

The wave ((iii))’s extreme would be pointed the Fibo target at 51.09, where the third and first waves are equal. After that, the wave ((iv)) will likely develop on the structural support (46.68).

Note: With respect to variant frames of Oil chart, revealing a five-wave structure of Minor degree will fully confirm the bullish case.

Crude Oil - Daily

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Crude Oil

Bullish View :

Oil has continued to rise in Minute-degree third wave of a first portion in uptrend.

The wave ((iii))’s extreme would be pointed the Fibo target at 51.09, where the third and first waves are equal. After that, the wave ((iv)) will likely develop on the structural support (46.68).

Note: With respect to variant frames of Oil chart, revealing a five-wave structure of Minor degree will fully confirm the bullish case.

Crude Oil - Daily

Crude Oil

Bullish Outlook :

The Crude Oil’s bear market could have concluded by Minor-degree extended wave C, in the February extreme-low at 26.05.

Technically, in the weekly frame a five-wave structure of Minute-degree to the upside will confirm the medium-term bullish case.

Crude Oil - Weekly

Crude Oil

Bullish View :

As shown on the quarterly chart below, Oil could have started its countertrend rally in Intermediate wave (C) of a flat correction as Primary wave ((B)) since the February low (26.05).

The medium-term rally will carry the price above 103.42 likely in 2 or 3 years ahead.

Crude Oil - Quarterly

Natural Gas

As shown on the N.G. daily chart below, a countertrend rally in Minor-degree wave C would trace out Intermediate wave (4) as a flat correction in three waves.

Accordance with the Elliott Wave Principle, in a “flat” correction:

  • Wave B usually retrace between 100 and 138 percent of wave A.
  • Wave C is usually between 100 and 165 percent as long as wave A.
  • Wave C usually ends beyond the end of wave A.

Natural Gas - Daily

Natural Gas

After extended Intermediate wave (3), the price is correcting in Intermediate wave (4) which would likely tracing out a three-wave as a flat correction.

Based upon this wave count, an impending countertrend rally in third wave of the wave (4) is anticipated.

The wave (4) will eventually result in a final decline as the wave (5) of Primary wave ((C)).

Natural Gas - Weekly