WTI path $80 after a dip? USOIL retrace pathways

24 Sep 2018

Oil looks to be headed to $80 still, but I think it will need a pull back soon.

I was originally thinking $80 by end of US summer (august)

Of course a lot of jaw boning has happened since, with various parties trying to position their resources.

But EW and Fibs still point to a wave 5 up coming.

24 Sep 2018

Nota

Not sure why the live chart is not advancing yet, but we have a decent retraction from the .764 fib

26 Sep 2018

Nota

We did get a slight rejection at expected resistance, but is looking bullish again. Lets see what Oil Inventory news brings on Wednesday.

23 Okt 2018

Nota

Update: still kind of on track.
Looks like we started an ABC with B going above previous (5), which is allowed per EW rules. So lets see if we keep pulling back a little more before next bounce

2 Nov 2018

Nota

Almost there, surprised it is going straight down to the target without any pullbacks yet. I expect a pull back just before landing, like an airplane that lifts a bit before hitting the ground

6 Nov 2018

Nota

First Target hit tradingview.com/x/jMvoGaKa/, closed 80% of my short position, leaving 20% with trailing stop, currently placed at 63.51. Will evaluate the momentum downwards and post a new Plan if the new measurements point any new targets.