Oil currently is its last stages of the decline that started in the summer of 2013 and it will place a bottom within the next few weeks. It is declining now in Minute wave v "which will be a 3-wave decline" where Minute waves i, ii, iii, iv and v represent the ending diagonal wave 5 of wave (5).
We are expecting wave v to over-shoot to the downside of the ending diagonal and below the arrow represented on the chart which will lead to triggering stop losses "below wave 3" and to increase the bearish sentiment to a new extreme.
At that point of time Oil should rebound and advance to the upside in at least 3 waves A-B-C towards the 70s~80s area or start an impulsive 5 waves (1-2-3-4-5) to the upside that could take us to new highs in the next years/decade. We cannot tell now but once the prices start to advance we will have more information to call it right.
How can we make money from this analysis? Simple; we have three options:
1-By trading spot or futures (only if you are an active trader).
2-Invest some money in Oil companies now for few years.
3-Buy long term Oil future contracts (with 2017 or 2018 expiry dates).
Happy trading :)
We are expecting wave v to over-shoot to the downside of the ending diagonal and below the arrow represented on the chart which will lead to triggering stop losses "below wave 3" and to increase the bearish sentiment to a new extreme.
At that point of time Oil should rebound and advance to the upside in at least 3 waves A-B-C towards the 70s~80s area or start an impulsive 5 waves (1-2-3-4-5) to the upside that could take us to new highs in the next years/decade. We cannot tell now but once the prices start to advance we will have more information to call it right.
How can we make money from this analysis? Simple; we have three options:
1-By trading spot or futures (only if you are an active trader).
2-Invest some money in Oil companies now for few years.
3-Buy long term Oil future contracts (with 2017 or 2018 expiry dates).
Happy trading :)
