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January 10th, 2018: OIL WTI Chart Update

Posted by pugsma on January 10, 2018

3:00 pm EST:   Back on May 5th, 2017 with OIL WTI trading down at $45.50 I made intermediate term forecast that OIL WTI would head higher toward at target at $63 to $74.    Here we are on January 10th, 2018 with OIL WTI trading at $63.45.

Basically OIL WTI has moved higher from the $26 bottom in an [A]-[B]-[C] corrective wave to the [C]=0.62[A] target of $63.   There is still a potential higher target at the [C]=[A] target of at $72.

OIL WTI Weekly Chart Comparison 5-5-17 vs 1-10-18:

OIL WTI Technical Analysis

 
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