by Lara | May 22, 2013 | US Oil
This deeper than expected upwards movement has indicated the prior wave count may be incorrect, although the daily chart remained valid. I have taken another look at the bigger picture. I expect this upwards movement may be part of a larger second wave correction....
by Lara | May 15, 2013 | US Oil
Last week’s analysis expected oil to move lower which is what has happened. The channel about the last upwards wave on the daily chart is now breached providing trend channel confirmation of a trend change back to the downside for oil. Click on the charts below...
by Lara | May 8, 2013 | US Oil |
Last analysis expected to see downwards movement after the channel drawn on the hourly chart was breached. The channel was breached, but thereafter price moved to a new high as a fourth wave correction continued deeper. This week the structure of this fourth wave is...
by Lara | May 1, 2013 | US Oil
Further strong upwards movement invalidated the main wave count. This upwards movement cannot be a fourth wave of an impulse because it has entered first wave price territory. It must be a second wave correction, or the structure is a diagonal and not an impulse. The...
by Lara | Apr 25, 2013 | US Oil
If price moves above 91.99 my main wave count would be invalidated. This is the alternate I would use. However, if the main wave count is invalidated I would want to do further work on finding new alternates, to consider all possibilities. At this stage the chart...
by Lara | Apr 24, 2013 | US Oil
Last week’s analysis had a short term target for some upwards movement at 89.21 to 89.41. Price has moved higher and so far is 0.23 above the target. But the structure is incomplete. I have calculated a new target for you this week. Click on the charts below to...
by Lara | Apr 17, 2013 | US Oil
Oil analysis last week expected price to move strongly lower as the middle of a third wave unfolded which is exactly what has happened. Targets have not been met, but the structure is incomplete. It should continue to move lower over the next week. Click on the charts...
by Lara | Apr 10, 2013 | US Oil
Last week’s oil analysis expected price to move lower. The short term target at 94.52 has been exceeded by 2.53. This week I expect the completion of a minuette degree second wave correction, followed by a third wave down. Click on the charts below to enlarge....
by Lara | Apr 3, 2013 | US Oil
The main wave count on last analysis expected more upwards movement from Oil towards a short to mid term target at 94.3 to 94.84. Price did continue higher to reach 2.89 above the target zone at 97.73, remaining below the invalidation point which is very close by now...
