At the last intermediate rally we run for 14 weeks before the correction had started.
We are now on week 10. At least we have 4 weeks more to rally.
But because the new bull is starting at least we are going to take out the last intermediate top at 50$ and test the 100 around 55$. So the rally might last for 6-7 more weeks. (In a new bull market you never know how long is the first part. The junior bull has to destroy all the bears and must get them on board before a correction can start.)
And maybe - this is also a possible scenario- if the rally is strong enough during the next 4-6 weeks we will break above 60$ taking out the 2015May intermediate top and tag the 200 weekly . That is the maximum we will reach at this intermediate cycle.
I would like to see the leaving overbought and SlowStoch to turn down before I close every energy position in the following 3-4 weeks.
We are looking forward to see 3-4 very very weeks.
So please don't try to short. Ride the bull! These are rare moments.