• 813 days Will The ECB Continue To Hike Rates?
  • 813 days Forbes: Aramco Remains Largest Company In The Middle East
  • 815 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,215 days Could Crypto Overtake Traditional Investment?
  • 1,220 days Americans Still Quitting Jobs At Record Pace
  • 1,222 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,225 days Is The Dollar Too Strong?
  • 1,225 days Big Tech Disappoints Investors on Earnings Calls
  • 1,226 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,228 days China Is Quietly Trying To Distance Itself From Russia
  • 1,228 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,232 days Crypto Investors Won Big In 2021
  • 1,232 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,233 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,235 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,236 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,239 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,240 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,240 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,242 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Oil Update Short Term EWP

I did not like at all the short-term count (off the June lows) I posted on August 23.

The idea remains the same, as the internal structure is clearly corrective hence it could belong to the wave (D) of a potential large Triangle which I begun discussing at the beginning of July.

Aside from the large time frame potential outcome, now, what matters is to identify the most likely EWP from the June lows.

I am following a new option that calls for an Ending Diagonal wave (C).

If this pattern is the correct one then price has to unfold the last corrective wave (V) up in order to finish the EWP.

OIL Chart
Larger Image

So far the internal structure of the current pullback is corrective hence it fits with the assumed wave (IV) of the ED.

 

Back to homepage

Leave a comment

Leave a comment