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Correctivewave

WTI - where is the bottom?WTI oil is in strong strong down trend as fundamental from OPEC and others pump oil into over supply. Companies fight for the market share and survive and battle conditions seems to be the same for a while. This fundamental view is supported by Elliott wave impulse pattern unfolding down into the last wave 5 (brown). This impulse pattern is the last wave C (blue) of the bigger corrective pattern. Now price is at 2009-01-01 low 32.00 which worked as strong support last time. And the second support level at 26.00. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
FX:USOIL
by venckusarunas
2
Long term view of APPL - Correction to ContinueAPPL is about to complete one complete wave cycle that started around April 2003 . Currently its in the correction mode that may continue for about six months or may be whole year. Previously, wave (2) retreated 68.3 % of wave one and the upward trend resumed. The third wave (3) was an extended wave with 361.8% movement of wave (1). The fourth correction wave retracted back 50% of previous impulse, wave (3), and the uptrend continued. The upward impulse finished with wave (5) on April 2015. Currently A-B-C correction is happening. The movement of (A) is about 50% of wave (5). The correction wave (B) retracted 76.4% of (A), and the (C) resumed the downward movement. The whole correction is expected to retract 68.3% of wave (5) to about 85, which is quite close to 38.2% of complete upward impulse (85.65). If further downward moment continues, it will correct up to 50% of upward impulse (67.87) . Happy Trading and Happy New Year.
NASDAQ:AAPLShort
by tuek