Crude Oil forecast as of 10/19/2009

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

QMContinues_091019_Blog

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

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