Oil closed on the 10 EMA with strong volume today. This fight is not decided yet. It is looking better for me than yesterday. We are on day 21 in the 2nd daily cycle.It's simply too early to start the move into the daily cycle low. So this week and the next is still there for oil to rally. In this decline we have maximum tomorrow and Friday to tag the 20 EMA.
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A higher high on the hourly chart. We turned up from the 300 EMA. The bull is back.
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JZA80
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"The Bull is back", sure it is.
Sonic_scheme
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I'm exhausted fighting the bulls (was short), think its time to adapt to the trend and quit fighting it. I'm going to hop on this bull train before it's to late.
chartwatchers
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A higher high on the hourly chart.
We turned up from the 300 EMA.
The bull is back.
Trendhopper
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Thanks for the charts, you seem to be everybodys favourite trader right now! mine included, good to see this is still bullish
xiiimik
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Could you suggest any books/sites about your day cycles?
Thanks.
chartwatchers
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Semd me an email in private message. And send you the pdf
I'm glad I held onto LGCY. It's on fire in after-market. Looking to move more into one of your energy/oil picks but not sure which or timing. Thanks again for all of the great work and help!
thulasi
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Oil closed with a doji star today also on wave count even if You take this as Abc correction oil has no problem falling to 40$(if it is impulsive then a huge move ahead to 20$ even to low as 9.65$ Elliot wave count always works except no one can be accurate ,,there is still one more wave that is 5 th wave and also Wave A must equal wave B on monthly chart which put oil around 9.65$ ) If oil could fall to 40$ it would have broken the daily trend line it built from feb 10 th to end of last month,,that will trigger a massive down trend .only alternative i see oil making 4 th wave triangle by running between 26 dollar and 46 $ as abcde(highly unlikely as the 2 nd wave was shallow ,,making the 4th scenario as steep) remember may and june historically bad months for oil except if there is war