... on the chart we see Descending Broadening Right Angle formation /very strong bullish reversal pattern/. The market expects miracles from the #ECB. After #Italyreferendum Dragi is standing against the wall.
..so - in long term I'm very bullish for $OiI. My private target for 2017 is level $70. But in short term, if I'm wrong with this idea /still active/:
we have another alternative - the barier triangle. Outer line in this case, ...
... it's easy - we have Double Top formation /return to $26 / or #Opec will surprise the markets and we will see huge movement to the North. GL!
... so - in the short term - I'm looking for Thanksgiving Top and correction in early December /Yellen?/. In long term - I'm very bullish for Trump presidency - but only for first two years. The Ending Diagonal is just one of the possibilities. Time is correct - the levels are approximate. ...
I'm elliotician. Not easy to live with that ... ;) . Symmetrical triangle is a perfect fourth wave. According to the rule of alternation - we have an ideal impulse from the February bottom. But ... we are in the election time - from this structure is near to the strong bearish formation: Three Falling Peaks ... & ...
Lindsay gave only one example of a longer-than-normal Domed House/ formed in 1968/. 255 days instead of 221/224 from the bottom to the Coupola. Perhaps that we see another case. But first on Wednesday, our aunt must be a very dovish.
... so - the only positive solution which at this moment comes to my mind /Leading Diagonal/. The index must go down to level of June 30. It is connected with Mars retrogradation. Below this level - we have confirmation of Three Peaks & Domed House.
... imo - in the long term: we are in the last /(5)/ wave in the impulse from the bottom #2009. For now it looks like Leading Diagonal /wave 1. of (5)/. I expect top in the December - and then pullback /when the market will receive real data from the labor ...
Wheat prices are now below of cost production - american farmers say. On the other side - market analysts saying we’re going to have a new cost level cca. $3.75.
Next Friday we have another #WASDE report.