Crude Oil forecast as of 11/06/2009

Nothing has changed when it comes to crude oil. Market is still consolidating and  Elliott continues showing “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th .This wave can last until November 23^rd before this specific combination would come invalid. Price wise, there is plenty of room to go.

Crude Oil forecast as of 10/27/2009

QMZ9 – Market is consolidating but Elliott continues showing “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th .This wave can last until November 23^rd before this specific combination would come invalid. Price wise, there is plenty of room to go.

Move down to low 70s will signal likely the finish of the current up wave.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 10/19/2009

QMX9 – Market continued moving up and Elliott continues showing “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th .This wave can last until November 23^rd before this specific combination would come invalid. Price wise, there is plenty room to go.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 10/13/2009

QMX9 – Market moved a little bit above the recent trading range. This might mean that finally the “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th will be finished.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 10/06/2009

QMX9 – Market is still in range and Elliott is still showing that market is in the process of “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th.

This range trading has been going on unusually long for oil market, so be ready for breakout any time.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 09/29/2009

QMX9 – Although market moved down, it did not breach our magical 65.00 level and Elliott is still showing that market is in the process of “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th.

If the market breaks 65.00 and continues down below 60.00, then we know that new wave down has started.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 09/22/2009

QMX9 – Market is still in the range and has not broken out but looking closely to the ZZ 3^rd wave, it seems that market either needs to start actively moving up or the likely time frame is over soon. Elliott shows that market is in the process of “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th.

Market move below 65.00 makes it likely that move up has ended.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 09/15/2009

QMV9 – Market is still in the range and  has not broken out so we still have the same two equally likely scenarios. Elliott shows that

A: market is in the process of “Zig-Zag” (ZZ) 2^nd wave in the range of 50.81- 64.86 between August 5^th and November 5^th;

or

B: market is in the process of “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 7^th

Market move above 75.00 makes scenario “B” more likely, market move below 65.00 makes scenario “A” more likely.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 09/08/2009

QMV9 – Market has not broken out of the range so we still have the same two equally likely scenarios. Elliott shows that

A: market is in the process of “Zig-Zag” (ZZ) 2^nd wave in the range of 50.81- 64.86 between August 5^th and November 5^th;

B: market is in the process of “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 7^th

Market move above 75.00 makes scenario “B” more likely, market move below 65.00 makes scenario “A” more likely.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 09/01/2009

QMV9 – Independent of market’s recent move down, we have two equally likely scenarios. Elliott shows that

A: market is in the process of “Zig-Zag” (ZZ) 2^nd wave in the range of 50.81- 64.86 between August 5^th and November 5^th;

or

B: market is in the process of “Zig-Zag” (ZZ) 3^rd wave in the range of 73.29 – 102.46 between August 10^th and October 6^th

Market move above 75.00 makes scenario “B” more likely, market move below 65.00 makes scenario “A” more likely.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.