Oil Mandatory Retrace
Oil has a Mandatory Retrace to 49ish & Likely 52.50 Oil has a mandatory retrace to put in to the VWAP of its bottoming megaphone (bright blue on chart). That’s at roughly 49ish on the May contract....
View ArticleBig Rising Wedge on Oil Too
Big Rising Wedge on Oil Means Any Breakout will be a Fakeout – Expect Megaphone or Other Top Before Trip Down However This kills the potential triangle scenario for oil and turns the bottom back into a...
View ArticleOil Topping Megaphone
Oil is Still Working on the Topping Megaphone for Its Rising Wedge Oil is still working on the topping megaphone for its rising wedge. The rising wedge formed within a megaphone across VWAP of a larger...
View ArticleEvery Top in the World on Oil 60-Minute Chart
Oil Now has Multiple Complete Topping Patterns on its 60-Minute Chart Oil has now completed a rising wedge top (purple) with a smaller rising wedge top (pink) crawling up its bottom. The minimum...
View ArticleOil Appears to be Holding Up ES
Oil is Headed to the Top of the Triangle Right Shoulder on its Inverse H&S Oil is surging for the neckline of its inverse H&S but it needs another pullback from it to complete a triangle right...
View ArticleOil Triangle vs Price Channel
If Oil Puts in a New High in its Potential Price Channel (Red) Before Breaking the Channel Bottom, It’s a Potential Melt-Up Set-Up Oil has bounced off the bottom of a potential price channel (red on...
View ArticleCLMT – Great Long-Term Set-Up with a Great Short-Term Launch
Neely’s B-Failure Flat Set-Up A Crash Followed by a Partial Retrace Followed by a Return to the Crash Low is a Set-Up for a Return to the All-Time High Glenn Neely’s book, Mastering Elliot Wave...
View ArticleBig Oil Set-Up Coming Up
A Break of the August 2016 Low is a Set-Up to Get Long When It Recrosses that Level Heading Up Oil broke its trend line up from the August 2016 low today. That means a set-up to get long for a move to...
View ArticleXLE Megaphones with Potential Melt-Up Set-Up
XLE has a Potential Sornette Melt-Up Set-Up on its 60-Minute Chart XLE has formed a beautiful megaphone inside a megaphone on its 60-minute chart. Even better, XLE has formed a potential Sornette...
View ArticleOil Update
Oil Inverse Head and Shoulders with Megaphone Right Shoulder Oil continues to work on the right shoulder of its inverse head and shoulders bottom (blue neckline). Oil is working on a megaphone or...
View ArticlePotential Oil Price Channel
A New Channel Low Would Confirm the Red Price Channel Oil is trying to confirm a new price channel (red in chart above). If the channel confirms, oil will be in its critical decision wave for starting...
View ArticleOil Price Channel
Oil is Working its Way Neatly Down the Blue Price Channel Oil is working its way neatly down the blue price channel. It’s either maxing out the channel waves before starting a megaphone bottom (green...
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