WTI OIL new uptrend soon?

Hi Traders,

In June I do 1-2-1 sessions either online (GoToMeeting) or locally (in Sydney CBD). Anyone who wants to upgrade to a professional level should act now. Please click here to contact me.


ANALYSIS

WTI OIL has completed all the 3 legs of the triangle - see the daily chart below and it's ready to break out the upper line to 106-107 and much higher.

TARGETS

likely: 105.92-106.12
possibly: 107.24-107.34
maybe: 107.96-108.12

ELLIOTT WAVES

The daily chart doesn't show the completion of wave 2 (in blue) yet. The a-b-c  is been followed by wave 1.-2-3. In the weekly chart,  this is part of the last wave up (wave 5) that should take the WTI OIL to 114.80 and maybe higher.

WAVE OSCILLATOR

Note  that the wave oscillator doesn't give it a go yet.



Weekly chart, click to enlarge

 Daily chart, click to enlarge

Wave Oscillator on a daily chart, click to enlarge

4-hour chart, click to enlarge

1-hour chart, click to enlarge

GBPUSD end of the line

Hi Traders,

I'm in Sydney in June and I do 1-2-1 sessions either online (GoToMeeting) or locally (in Sydney CBD).

Anyone who wants to upgrade to a professional level should act now. Please click here to contact me.


ANALYSIS

Unless the pound (now at 1.6743) makes another attempt to reach my original target at 1.7036 (see monthly chart) this is the end of the line and we are heading to 1.60.

TARGETS

likely: 1.6378 - 1.63048
possibly: 1.6029 - 1.5982
maybe: 1.5765 - 1.5709

ELLIOTT WAVES

The daily chart shows a complete set of 5 waves. Hence, unless there's going to be a double extension (it's always possible with the Pound) the way is down.






Monthly chart, click to enlarge

Weekly chart, click to enlarge

 Daily chart, click to enlarge

Wave Oscillator on a daily chart, click to enlarge

4-hour chart, click to enlarge

1-hour chart, click to enlarge