Posted by pugsma on March 18, 2015
11:30 pm EST: Based on the monthly chart, Oil has a Cycle 2 target in the $41 to $35 range. Oil looks to be in a minor 3 of major -PC-C2 wave down with a minor 3 = 1.62*minor 1 target at $41-42. Look for a minor 4 bounce to $43-44 and then minor 5=1 at $37-38 to complete the Cycle 2 low.
Oil (WTI) Monthly Chart:
Posted in OIL | Comments Off on March 18th, 2015: Oil Monthly Chart Update
Posted by pugsma on January 4, 2015
12:25 pm EST: Here is the OIL (WTI) monthly chart with a wave count projecting to a bottom near $47, where [C]=1.62[A] = 47.2.
OIL (WTI) Monthly Chart (1-2-15, EOD):
Posted in OIL | Comments Off on January 4th, 2015: OIL (WTI) Monthly Chart
Posted by pugsma on December 8, 2014
2:55pm EST: Below is a long-term historical chart on WTI Crude Oil prices. $60 per barrel is an interesting level based on the parallel trend-line connecting the December 1998, December 2001 and March 2009 lows.
Posted in OIL | Comments Off on December 8th, 2014: Crude Oil Historical Chart