WTI to $80.00 by end of August?

3 Mei 2018

I am by no means an Oil Trader.
But I do trade Commodity Currencies, especially CAD.

Just observing the price patterns, and considering the time of year.
The Elliott Waves and Fibs seem to line up nicely with the calendar.
I have no idea what OPEC or the Geopolitical situation might do.

So not a trade here by any means, just putting it out there for consideration.

20 Mei 2018

Nota

Oil still climbing, but TA says it is near 'a' peak.
So I will be watching for a pull back week of May 21st/
Will post a new Idea or update here, but looking for signs of pullback:

27 Mei 2018

Nota

Well, the pullback came as expected.
and WOW, straight down thanks to OPEC.
Will be watching the support zones for possible bounces.

28 Mei 2018

Nota

Oil fell on OPEC news I guess.
It came to rest exactly in the fib zones as anticipated.
But I think it will go to the next zone, fine tuning those calculations now.