It's possible that the expected wave iv correction over with the test of 96.26 and wave v higher is now developing for a rally towards the ideal target of 101.18. A rally to the ideal target 101.18 will be a bit over the wave 4 high of 100.76, which will be the ideal indication, that a new rally higher is developing.
My longer term count (see the chart below) is calling for a new rally to above the 112.22 high. I do think the wave B became a bit to small, but then how am I to argue with the price action...
Hello EWS,
ReplyDeleteCrude Oil - a big difference between these two counts from now:
“My longer term count (see the chart below) is calling for a new rally to above the 112.22 high. I do think the wave B became a bit to small, but then how am I to argue with the price action...”
and Friday, December 20, 2013
“Crude Oil - Be ready for wave 5 lower...
The break below 96.31 was never sustained (small bear trap), which has kept wave moving closer to the 38.2% corrective target at 100.04. However, we should be close to the top of wave 4 and see wave 5 of C take over soon for a confirmed break below 96.22 for a continuation lower towards the ideal wave 5 target at 87.32.”
What is the reason for such big difference?
thx
Hi Paulina,
DeleteI think you lost sight of the longer term Count. I was looking for wave c of a correction and once this correction was over Ideally at 87.32, then a new rally was expected. However the c wave ended at 91.25 and a new impulsive rally to above 112.22 should now be unfolding.
I hope that clarifies the Picture.
Kind regards
EWS