A bounce was expected to continue higher for Tuesday, which is what has happened. How high this bounce goes may begin to indicate what Elliott wave structure may be unfolding.
Summary: A pullback or consolidation is underway. It may continue now through to the end of this week and possibly a little longer. Support is expected to be about 3,153; but if this expectation is wrong, it may be too low.
For the short term, a little more upwards movement may continue tomorrow. It may reach up to 3,325.46, and it is possible it could make a new all time high. This is expected to be an upwards swing within a consolidation, a B wave.
Three large pullbacks or consolidations (fourth waves) during the next 1-2 years are expected: for minor wave 4 (underway), then intermediate (4), and then primary 4.
The biggest picture, Grand Super Cycle analysis, is here.
Last monthly charts analysis is here with video here.
ELLIOTT WAVE COUNTS
FIRST WAVE COUNT
WEEKLY CHART
Click chart to enlarge.
Cycle wave V may subdivide either as an impulse or an ending diagonal. Impulses are much more common, and it is clear at this stage that cycle wave V is an impulse and not a diagonal.
At this stage, cycle wave V may take another one to two or so years to complete.
A channel is drawn about the impulse of Super Cycle wave (V) using Elliott’s first technique. Draw this channel first from the high of 2,079.46 on the 5th of December 2014 to the high of 2,940.91 on the 21st of September 2018, then place a parallel copy on the low at 1,810.10 on the 11th of February 2016. Cycle wave IV found support about the lower edge.
Within Super Cycle wave (V), cycle wave III may not be the shortest actionary wave. Because cycle wave III is shorter than cycle wave I, this limits cycle wave V to no longer than equality in length with cycle wave III at 3,477.39. A new high by any amount at any time frame above this point would invalidate this main wave count in favour of one of the two alternate wave counts in the monthly chart analysis which are much more bullish.
The daily chart below will focus on movement from the end of minor wave 1 within intermediate wave (3).
Within cycle wave V, primary waves 1 and 2 may be complete. Within primary wave 3, intermediate waves (1) and (2) may be complete. Within intermediate wave (3), minor wave 4 may not move into minor wave 1 price territory below 3,021.99.
Within cycle wave V, the corrections of primary wave 2, intermediate wave (2) and minor wave 2 all show up clearly on the weekly chart. For cycle wave V to have the right look, the corresponding corrections of minor wave 4, intermediate wave (4) and primary wave 4 should also show up on the weekly chart. Three more large multi-week corrections are needed as cycle wave V continues higher, and for this wave count the whole structure must complete at or before 3,477.39.
DAILY CHART
Click chart to enlarge.
All of primary wave 3, intermediate wave (3) and minor wave 3 may only subdivide as impulses.
Minor wave 3 now looks complete.
Minor wave 2 was a sharp deep pullback, so minor wave 4 may be expected to be a very shallow sideways consolidation to exhibit alternation. Minor wave 2 lasted 2 weeks. Minor wave 4 may be about the same duration, or it may be a longer lasting consolidation. Minor wave 4 may end within the price territory of the fourth wave of one lesser degree; minute wave iv has its range from 3,154.26 to 3,070.49. However, this target zone at this stage looks to be too low.
Minor wave 4 may not move into minor wave 1 price territory below 3,021.99.
When minor wave 4 may be complete, then a target will again be calculated for intermediate wave (3).
When intermediate waves (3) and (4) may be complete, then a target will again be calculated for primary wave 3.
Draw an Elliott channel about intermediate wave (3): draw the first trend line from the end of minor wave 1 to the end of minor wave 3, then place a parallel copy on the end of minor wave 2. Minor wave 4 may find support at the lower edge of this channel if it is long lasting or deep enough. It is possible that minor wave 4 may breach the lower edge of the channel as fourth waves are not always contained within a channel drawn using this technique. If minor wave 4 breaches the channel, then it shall need to be redrawn using Elliott’s second technique.
Price has recently reached just above the upper edge of the wide teal channel copied over from monthly and weekly charts. A reaction downwards here increases the technical significance of this trend line.
Minor wave 4 may subdivide as any corrective structure, most likely a flat, triangle or combination. Within all of a flat, triangle or combination, there should be an upwards wave which may be fairly deep. That may now be underway.
HOURLY CHART
Click chart to enlarge.
A zigzag downwards may now be complete. This is labelled minute wave a or w.
If the zigzag downwards is complete, then a three wave structure upwards may be underway. This would be labelled minute wave b or x. If minor wave 4 unfolds as a flat correction, then within it minute wave b must retrace a minimum 0.9 length of minute wave a at 3,325.46, and it may make a new all time high as in an expanded flat. If minor wave 4 unfolds as a combination or triangle, then there is no minimum upwards requirement for minute wave x or b and either may make a new all time high.
B waves are the most difficult of all the Elliott waves to analyse. They exhibit the greatest variety in structure and price behaviour. Minute wave b may be a quick sharp bounce, or it may be a complicated time consuming sideways consolidation.
Minor wave 4 may end within the price territory of the fourth wave of one lesser degree. Minute wave iv has its range from 3,154.26 to 3,070.49. Within this range is the 0.382 Fibonacci ratio of minor wave 3 at 3,153.72. If this target range is wrong, then it may be too low.
SECOND WAVE COUNT
WEEKLY CHART
Click chart to enlarge.
This second wave count sees all subdivisions from the end of the March 2009 low in almost the same way, with the sole difference being the degree of labelling.
If the degree of labelling for the entirety of this bull market is all moved down one degree, then only a first wave at cycle degree may be nearing an end.
When cycle wave I is complete, then cycle wave II should meet the technical definition of a bear market as it should retrace more than 20% of cycle wave I, but it may end about either the 0.382 or 0.618 Fibonacci Ratios of cycle wave I. Cycle wave II may end close to the low of primary wave II within cycle wave I, which is at 1,810.10. It is also possible that cycle wave II could be fairly shallow and only barely meet the definition of a bear market.
The impulse is still viewed as nearing an end; a fifth wave is still seen as needing to complete higher. This wave count labels it primary wave 5. Primary wave 5 may still need another year to two or so to complete, depending upon how time consuming the corrections within it may be.
Primary wave 5 may be subdividing as an impulse, in the same way that cycle wave V is seen for the first weekly chart.
TECHNICAL ANALYSIS
WEEKLY CHART
Click chart to enlarge. Chart courtesy of StockCharts.com.
It is very clear that the S&P is in an upwards trend and the bull market is continuing. Price does not move in straight lines; there will be pullbacks and consolidations along the way.
This chart is overall bullish. There are no signs of weakness in upwards movement.
A pullback or consolidation has begun. This is relieving extreme conditions. Look for strong support below about 3,020 to 3,025.
DAILY CHART
Click chart to enlarge. Chart courtesy of StockCharts.com.
The larger trend, particularly at the monthly time frame, remains up. Expect pullbacks and consolidations to be more short term in nature although they can last a few weeks.
In a bull market which may continue for months or years, pullbacks and consolidations may present opportunities for buying when price is at or near support.
Price is not yet at support and Stochastics is not yet oversold. Next support is at 3,150 to 3,155.
Sustainable lows may be identified by a 180° reversal of sentiment in a 90% down day followed by one or more of the following things:
– Either a 90% up day or two back to back 80% up days within 3 sessions of the 90% down day.
– RSI may reach oversold and then exhibit bullish divergence.
– A strong bullish candlestick pattern with support from volume.
In the absence of bullish reversal signs, expect the pullback or consolidation to continue.
Today another small range day with an upper wick lacks conviction; it falls short of an 80% upwards day. There is so far no return of strong buying needed to indicate a sustainable low in place.
BREADTH – AD LINE
WEEKLY CHART
Click chart to enlarge. Chart courtesy of StockCharts.com. So that colour blind members are included, bearish signals
will be noted with blue and bullish signals with yellow.
Bear markets from the Great Depression and onwards have been preceded by an average minimum of 4 months divergence between price and the AD line with only two exceptions in 1946 and 1976. With the AD line making new all time highs last week, the end of this bull market and the start of a new bear market is very likely a minimum of 4 months away, which is mid May 2020.
In all bear markets in the last 90 years there is some positive correlation (0.6022) between the length of bearish divergence and the depth of the following bear market. No to little divergence is correlated with more shallow bear markets. Longer divergence is correlated with deeper bear markets.
If a bear market does develop here, it comes after no bearish divergence. It would therefore more likely be shallow.
Last week both price and the AD line have moved lower. Downwards movement has support from declining market breadth. The AD line has made a slight new low below the short-term low three weeks prior, but price has not but only by 0.04 points. This divergence is bearish, but it is very weak. The important point to note is that it is not bullish.
Large caps all time high: 3,337.77 on 22nd January 2020.
Mid caps all time high: 2,106.30 on 17th January 2020.
Small caps all time high: 1,100.58 on 27th August 2018.
For the short term, there is a little weakness now in only large caps making most recent new all time highs.
DAILY CHART
Click chart to enlarge. Chart courtesy of StockCharts.com. So that colour blind members are included, bearish signals
will be noted with blue and bullish signals with yellow.
Breadth should be read as a leading indicator.
Upwards movement for Tuesday has a corresponding rise in the AD line. There is no new divergence.
VOLATILITY – INVERTED VIX CHART
WEEKLY CHART
Click chart to enlarge. Chart courtesy of StockCharts.com. So that colour blind members are included, bearish signals
will be noted with blue and bullish signals with yellow.
The all time high for inverted VIX was on 30th October 2017. There is now over two years of bearish divergence between price and inverted VIX.
The rise in price is not coming with a normal corresponding decline in VIX; VIX remains elevated. This long-term divergence is bearish and may yet develop further as the bull market matures.
This divergence may be an early warning, a part of the process of a top developing that may take years. It may is clearly not useful in timing a trend change from bull to a fully fledged bear market.
Last week both price and inverted VIX have moved lower. Inverted VIX is falling faster than price. It has made a new mid-term low below the prior low 8 weeks ago, but price has not. This divergence is bearish.
DAILY CHART
Click chart to enlarge. Chart courtesy of StockCharts.com. So that colour blind members are included, bearish signals
will be noted with blue and bullish signals with yellow.
Upwards movement for Tuesday comes with a corresponding rise in inverted VIX. Price has made a new short-term swing high above the prior swing high of 3 – 4 sessions ago, but inverted VIX has not. Upwards movement does not come with a normal corresponding decline in VIX. VIX remains elevated. This divergence is bearish for the short term.
DOW THEORY
Dow Theory confirmed a bear market in December 2018. This does not necessarily mean a bear market at Grand Super Cycle degree though; Dow Theory makes no comment on Elliott wave counts. On the 25th of August 2015 Dow Theory also confirmed a bear market. The Elliott wave count sees that as part of cycle wave II. After Dow Theory confirmation of a bear market in August 2015, price went on to make new all time highs and the bull market continued.
DJIA: 23,344.52 – a close on the 19th of December at 23,284.97 confirms a bear market.
DJT: 9,806.79 – price has closed below this point on the 13th of December.
S&P500: 2,532.69 – a close on the 19th of December at 2,506.96 provides support to a bear market conclusion.
Nasdaq: 6,630.67 – a close on the 19th of December at 6,618.86 provides support to a bear market conclusion.
With all the indices having moved higher following a Dow Theory bear market confirmation, Dow Theory would confirm a bull market if the following highs are made:
DJIA: 26,951.81 – a close above this point has been made on the 3rd of July 2019.
DJT: 11,623.58 – to date DJT has failed to confirm an ongoing bull market.
S&P500: 2,940.91 – a close above this point was made on the 29th of April 2019.
Nasdaq: 8,133.30 – a close above this point was made on the 26th of April 2019.
Published @ 06:57 p.m. EST.
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Careful risk management protects your trading account(s).
Follow my two Golden Rules:
1. Always trade with stops.
2. Risk only 1-5% of equity on any one trade.
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New updates to this analysis are in bold.
Hourly chart updated:
Minute b or x may be over at any time now.
Upwards movement off the low of 31st January is too weak to be considered a sustainable low. This upwards movement has weakness exactly as a B wave or X wave should.
Thank you very much for the update as usual before the close. Have a great day in NZ or where else your travels take you. Your good-bye to your son, Jack, yesterday is not your final good-bye. It is a, “Good-bye, see you soon or again.” But I know it is your release of him to grow into the man you raised him to be and one you of whom you will be proud. Go Jack!
I should have said, I know the release of our children into the dangerous world is quite difficult. Again, Go Jack!
I second that!
Lara and Rodney,
Lara, although your work is very challenging at least you have been able to work mainly from home to be there much of the time for your son, Jack. I am sure you and Cesar have been very thoughtful in preparing him for the world. Like Rodney says, its…’see you again very soon’.
Again, thank you for all of your hard work and guidance.
Thank you very much guys.
It has been particularly hard, because he’s now at the bottom of New Zealand and I’m closer to the top.
But also, on the 20th of February we fly back to the USA, and then onto Panama. Where we may stay for a long time.
So this goodbye was really hard.
Jack is doing admin for us, and we’ve added him to our About page on both websites.
Lara, I see that Jack is studying audio engineering. Most interesting to me, as that was my career for 40 years. I still tinker with it by way of nature soundscape recording. I wish him the best.
Thank you Curtis
Hi Lara, nice time to surf Panama.
I’ve been getting some cold northern California days at ocean beach in SF.
better pack a copy of Barbarian Days for those long flights!
it will be good to get you in our time zone! safe travels!
Ok, the truck is full of hotcakes…. C ya soon!
Insert smile face here. (I am inept at inserting emojis)
🙂
What are these hotcakes? I must have missed A fewvwabbits notes from past few days.
Spy puts, get them while they’re hot !
Cool, in the money or slightly out of money
I stole a couple off someone’s truck; I was feelin’ hungry!!!
Buying pressure is unrelenting here. RUT’s move up overall off the lows a few days ago is as strong a move as it ever shows.
Bought some UWM as it turned up to hedge my RUT short. Exited both with a very small loss as price reached the day’s high again. Now RUT is indicating it’s going up another floor at least, to the 76-78% area around 1691.
For me, /ES is providing some clarity. A pretty clear impulsive 5 wave move up, and should be starting it’s final wave v of that move. But then I would expect based on this alone just a nominal 3 wave correction of it, i.e., the minor 4 is over (or maybe, as marked here, it was only a minute 4 of an ongoing upward minor 3?). I’m more and more suspicious here that’s the case, but it ain’t over until it’s over.
Hi Kevin,
I just replied to Rob regarding the same issue with minor 4 being over. I disagree that it’s over and I’m more on a side with Lara’s main count. The reason why i believe it’s true is because the drop from 3293 on Jan 29th to low of 3214 on Jan 31st on SPX did not have 5 wave structure in it. That would have been minute wave C to complete minor 4. But I don’t see 5 waves there. Therefore, Lara’s main count stays intact. We can still hit ATH soon, but normally it’s 105% of wave A which places that target at around 3343 or so. And then the real minute 5 structure wave C should come. What do you think?
I think it’s all rather uncertain at the moment, and as I said before, when uncertain…Lara’s call is far more informed than most, certainly mine. All I note is that /ES has a pretty clear motive wave up from the low last Friday, and it increases (for me) the potential that this correction is over. Not that it makes it the dominant thesis for me: I still hold VIX calls!!! But I think I can get out of those with at least a small profit even if there’s “only” a 3 wave correction at lower degree off this move up.
What I see re: the structure of the correction down here in /ES with overnight data (and there’s LOTS of overnight movement going on!!)? An “a” down as a flat, a “b” up as a flat, and an impulsive 5 wave “c” down to finish an overall 3-3-5 correction. And now a motive wave up, nearing completion. Just what I see, and I acknowledge I am no EW expert.
Could you point out where exactly the points you see for “a” down as flat? I just don’t see flats on /ES for “a”. Could you please send a screenshot how those flats are shown on your charts? Isn’t for “a” to be flat, b wave within that “a” should have been around the top of “a”, but there is none. To me, “a” wave looked like 5 structure. However, “b” looks to be regular flat on /ES from 3233 on Jan 27th as a start of minute wave b with minuette b within it starting at 3291.75 on Jan 29th and minuette c starting at 3239.75 on Jan 30th and ending at 3297.5 on Jan 30th. That could be regular flat as b ends approximately at the same spot as a started. But, again, I don’t see flat on minute “a” structure. It looks like a regular 5 wave structure to me.
Another observation, and I’m not sure how cycle time fits into EW, if at all, from start of minute a to its end there were 5 days for minuette a, 2 days for minuette b and 2 days for minuette c (taking Lara’s main count). Now we have 5 days so far for minute b passed. If that count is wrong and minor 4 is over, then could it be 5 days – 2 days – 2 days structure for 5-3-5 zigzag? It should have been a zigzag for minor 4 if it’s over.
my stab at such a count is further below.
Thanks, Kevin. I just looked at it. But for minute a to be flat, minuette c cannot go so much beyond end of minuette a. In your case, minuette c moved 68 points below end of minuette a. It is too much of a drop away from a to be considered flat. If it’s not flat, then what is it if your count is correct?
I’m not aware of any hard and fast rules that say C waves of a 3-3-5 structure can’t go well below the low of the A wave. I think it’s not so uncommon, either. But I could be wrong.
If that was improper, then I’d have to call the C wave a 3 and call it a 3-3-3 combination I guess.
Here’s my Fibo fitted projections based on the move up from the Friday low, added to the /ES hourly picture. The two short blue lines are them; the long blue lines are Fibo fitted projections from long ago. Now these are always a “zone” around the level, so I’ve marked with gray ellipses the areas that I think based on this are the high potential pivot high locations. Again, this move up looks a little incomplete still (the current highs have “okay” fit, but the fit is decidedly stronger at the two new levels marked).
3343 fits perfectly for 105% wave b overshoot over wave a. As long as it doesn’t go way above that target, Lara’s count should still be intact, imho.
Absolutely it’s intact, and probably will play out that way. But there’s almost always more than one “valid” count, at various levels of probability, and it’s good to stay cognizant of that and the specifics, so if/when the market takes an odd detour, we instantly have a likely map of what’s going on.
Your minute iv (pink [iv] ) should be relabelled W-X-Y as a double zigzag.
Labelling it a-b-c is invalid, because when a subdivides as a three (this one is a zigzag, that’s a three) then b must retrace a minimum 90% of a. That wave b does not. Also, wave c cannot subdivide as a zigzag (sole exception is wave c within a triangle)
Thank you Lara.
Learn something every day (in fact, some days, I relearn things!).
Note price just tagged the lower edge of my lowest potential pivot zone. I’ve taken a very small pilot short, just in case we get some significant selling over night or even in the final 40 minutes here.
Kevin,
could you tell me how you obtained that dashed area right around the price where it touched it? It says 100% – of which swings? It’s hard to figure out from the picture. Thank you as always.
That 100% is the high back on 1/24. So 100% retrace level from the Friday low back to that pivot high.
As for the zone…I “fit” a Fibonacci structure over a swing in progress, looking for alignment of internal pivots with the fibonacci levels, to strive to project where the final swing high of the overall price movement may be. Under the theory that all structure is fractal, and the final complete swing structure will itself tend to have internal pivot structure at the levels required by the nature of fractals (the fibonacci levels, and it’s required generally because if it didn’t, you get distortions of form at different degrees of magnification). I call the target price thus modeled a “Fibonacci projection”, as opposed to the two traditional methods of using Fibonacci structure: retracements (or a prior swing) and extensions (of a prior swing). These two along don’t take advantage of the Fibo structure generally required of a swing to give us information. The targets I produce aren’t predictions of swing completion: they are levels where the potential of a swing completing pivot is higher than usual, because it completes a “well Fibonacci structured” complete swing. Hope this helps. I believe the April edition of Technical Analysis of Stocks and Commodities will publish my article on this technique, by the way.
sold oil contract after the 5 up and opened first bunch of near the money calls UCO for Feb 28
GLD anyone? Bought an unbalanced butterfly for Feb 21, 146-147-148.6. Below 146 it’s a scratch trade. Above 148 and I’m out with a loss of 1 unit. Pin at 147 and I’m a winner at 8.5 units. I think gold is going to just go sideways and perhaps just a little up in a range here under the assumption the market sells off in a C down.
I have gold and silver long….
Here’s my working model for GLD that explains why I’m trading it sideways/down for the next few weeks.
Thank you to Rodney and everyone who has responded to my questions. This is a great learning platform.
Over the past 8 years, I have learned more on this forum and from Lara than anywhere else in my 44 years in the markets.
Just wondering. I know by form this correction should continue about another week or so. It also follows that this may be shaping up as some sort of flat. However, as I look at this wave, without anticipating the continuation of a correction, it sure looks like an impulse. From those more experienced, does this seem like a viable alternative. Thanks
Good morning Rob. In MHO, we are in a very difficult area. The main and only count Lara has given us is playing out right on the anticipated pattern. So a C wave down is imminent. However, it is possible Minor 4 is over. The question is what are the probabilities. As I reflect upon this, I am considering taking a short position in my short term trading account. Even though a new ATH (3338) is not out of the question for the current B wave, I would probably use that as my stop which is pretty close to current SPX, 3325. However, my primary money making is in longer term trades. I am sitting on hands being out of all positions. I will buy long positions on a break below 3200 and again if we approach 3150. I will be looking for Lara’s clues like a 90% up day etc.
So, there is opportunity here for nimble players. But caution and risk management are important. I hope this helps a bit at least.
I bought some VIX calls and sold a RUT bear call spread as the market started flashing some downward movement in the last 20 minutes. RUT stalled on top of the 61.8% retrace level, and of course SPX at just below the ATH, so “high potential” pivot high price levels.
RUT’s touch and stall (turn???) at the 61.8%, “perfect”. Some big gaps below to fill methinks.
I have in fact taken a short the market position as well.
Yes!
B waves are often have strong impulsive sections; they are fine tuned to suck you into the long side!! I have also been wondering Rob that maybe the 4 is over. But I have learned over the years that Lara’s call is accurate substantially more often than not, and she’s pretty firm it is (was?) a B wave…so I’m going with that, and took a few small shorts trying to collect over the next few days. But it’s a probabilistic game and nothing is ever certain, that IS certain!!
Rob,
I’m relatively new to the forum and the whole EW concept, but so far I was impressed with Lara’s service. Here is why I believe Lara’s main count is correct (at least as it stands now): if minor 4 is over (as you supposed), then SPX drop from 3293 on Jan 29th to 3214 low on Jan 31st would constitute minute wave C in your case. However, I highly doubt it was minute wave C as by definition it has to be 5 wave structure. I don’t see 5 waves in that last drop from Jan 29 to Jan 31 unless you can point it to me.
I’m sure Lara will have her input on this, but I believe this is the reason why we didn’t see minute wave C yet.
Also, just an interesting observation: 105% of minute wave A (which is supposedly how much of minute wave A normally minute wave B can extend to in the extended flat correction, then the target is 3343 ATH, which is approximately where the long term multi-month trend line’s resistance is at.
Just my 2 cents and I’m sure Lara will correct me if I’m wrong. After all, we are all here to learn. Thank you.
Corrections can be “combinations”, which have 3-3-3 structure. So lack of a 5 wave C move down doesn’t actually on it’s own mean too much.
Kevin,
I’m a little confused: if minor 4 is over, then ABC correction we had should have been zigzag which would be 5-3-5 structure with minute B starting at 3234 on Jan 27th, and minute C starting at 3293 on Jan 29th and ending with low of 3214 on Jan 31. Could there be combination instead of zigzag in this this correction? What combo and how do you draw it then?
Here’s a stab at it, again using /ES, given that at the hourly time frame SPX has huge gaps during this period. Again, I am a mere amateur EW analyst; your counts may vary!!!
This count also suggests that perhaps my labeling of the move up off last Friday’s low should be lowered one degree, as the wave sizes are a bit out of proportion with the correction waves of similar degree.
I’m getting that same TSLA activity, price falling on the stock, puts losing money!
Got it, my strike price is too far away, not very liquid …
Is Verne in today? 🙂
WWVD? Buy some $2 hot cakes that expire Monday? I’ll try it
One of Verne’s last comments yesterday is that he was headed over to the posse / war room for a while. I think that means he will not be on this forum today and for some time.
What an insane overnight move…
Well that came as quickly as Lara said!! Sucker Rally before the next fall
Already hitting 3325 premarket…let’s see how it unfolds..
Haza!
Can’t believe I’ve not been checking out Lara’s black gold analysis (too distracted by TSLA?, ha) ….. looks like a bottom is due soon!
TSLA has been very distracting indeed..
Was that it for oil? Ending diagonal ? Anybody buying ? I opened first contract yesterday….
Peter – may I ask what instrument do you use for oil trading? Is it all futures or mix?
QM, emini crude oil
Thanks for the reminder! Knew oil was likely bottoming here…bought some mid March (avoid premium decay) OIH at the money calls. (I can’t trade USO or it’s options, not allowed in an IRA account by my brokerage).
I can’t believe it either! 🙂
I’m quite pleased with my Oil analysis for the last few weeks. It’s been pretty accurate.
It looks today like Oil has a strong Bullish Engulfing pattern, the low may now be in.
Thanks Lara!