ELLIOTT WAVES by FX TUTORS: WTI OIL, almost there

Thursday 31 October 2013

WTI OIL, almost there

Hi Traders,

Before getting into the analysis of WTI OIL, don't forget my Elliott wave Bootcamp in SYDNEY.

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for further information call Richard Vatner at City Index Sydney: 02 9270 3618.

DESCRIPTION

Learn to successfully master the "Wave Oscillator" to identify safer entry/exit points.

Spot the major turning points.

Identify profitable long running trades

Identify and avoid bad losing trades

Keep your trades running for as long as needed

To successfully master the "Wave Oscillator" to identify safer entry/exit points.

Spot the major turning points.

Identify profitable long running trades

Identify and avoid bad losing trades

Keep your trades running for as long as needed

If you want to be part of the ELLIOTT WAVE BOOTCAMP in Sydney:

click on "HERE" to be re-directed to a Payment Gateway.
for further information call Richard Vatner at City Index Sydney: 02 9270 3618.

...

THE ANALYSIS: WTI OIL

The WTI OIL (now at 96.60) did exactly as predicted and it's moving to target area around 95.00-94.79.

After hitting the new low it should start a new uptrend that might take it to the area 104.00-104.31 (see weekly chart).

TARGETS

First: 95-94.79

then

likely: 98.88-99.22
possibly: 101.72-102.07
maybe: 104.00-104.31

ELLIOTT WAVES

The weekly chart shows that this is the first leg down of wave 4.

A pullback is expected to 104-105. This might be followed by another leg down to form an "a-b-c" ending around level 91.00.

NOTE

However, if the oil doesn't perform a zig-zag (a-b-c), it might stretch straight to the area 112-115 (weekly chart).

Monthly chart, click to enlarge