WTI OIL: time to buy back

Hi Traders,

Time to long the WTI OIL (now at $49.27) as it's supposed to rally to the area $60-62. The present price seems to be a good entry point.



TARGETS

likely: area 58.25-59.49
possibly: area 61.69-62.63
maybe: 63.67

The blue lines in each chart represent possible targets



ELLIOTT WAVES

The OIL completed wave 3 in the weekly chart and started "retracement wave 4".

Waves 1 & 2 in the 4-hour and 1-hour charts are just the beginning of the bigger "retracement wave 4" of the weekly chart.




weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

AUDUSD back to 0.80-82?

Hi Traders,

The Aussie Dollar (now at 0.7860) is set to bounce back to 0.8036-0.8067 and higher.


TARGETS

likely: 0.8036-0.8067
possibly: 0.8168 - 0.8156
maybe: 0.8229-0.8260 

The new targets are marked with blue horizontal lines in  the monthly, weekly and daily charts.

ELLIOTT WAVES

Note the 4-hour and the 1-hour charts that show the Elliott wave count that shows the unfolding of a typical wave 4 of the daily chart.




monthly chart, click to enlarge

weekly chart, click to enlarge

daily chart, click to enlarge

4-hour chart, click to enlarge

1-hour chart, click to enlarge