Katkinson

Katkinson

Decent amount of Headwind at 49.72. probably going to go for the lower pivot tomorrow. I saw some hedging candles and PA action this morning. still think the 48.50 Options are going to strike before the next leg up

Katkinson

Oil did not perform according to Waves this past drop. it was rather premature in timing. but went to prices I predicted. The 48.50 Options are sure to hit this cycle so don't buy before then.

Katkinson

Looks like Oil found support immediately after 5th wave down completed at 50.00. the retrace is strong indicating there will be 3 pivots up 1 just completed. this could and should be the start of the 12 day rally for 53.50. but time and the candles will tell. short is not the trade

Katkinson

It didn't pick up and go at 50.30 like I though it would. My entry was 50.31 and the position was up but broke even as I was holding out for larger profits. however, Currently the candles are starting to look like it will drop to 49.75 for the 5th wave then start W5 for 16 days and 53.50. its a safe positions because the 5 pivots would have occurred so you will...

Katkinson

When looking at this recent top, its very important to look at the retraces. and the capitulation at W3-4. algos and others are very net long. still at this price. the cycle reversal without more time would put them in the red. look for a double top at 52.90 or another strong retrace this week if reports are not terribly bad.

Katkinson Updated 

WTI is certainly in Retrace Mode. however it did hit channel, the W3-4 was near non existent. indicating there could be another wave coming. before the big down Cycle.

Katkinson

CC hit as stated from prior chart. not guaranteed but I am expecting a retest of 52.90. within the next 10 days.

Katkinson

This is the 20 Day cycle outlook

Katkinson

24 hour ABC correction from 49.10.

Katkinson

The glut will be sold this CC cycle. Cuts are not enough to overwrite production increases. I believe there wil be a sub CB within this CC if a decent report comes out. However it will not go past 49.00.

Katkinson Updated 

Todays Prediction. send a word to my investing.com friends that I am here if you see this. thanks.

Katkinson

This will bear flag out until around 4-6am US eastern Time then continue to fall to lower Fib level.

Katkinson

The correction has been technically completed. Looks like next week will start of with a fresh wave count. however it is a 5 so it may not actually break 55.00. This will retest 54.40 again for the third time early next week.

Katkinson

Correction has technically been satisfied.

Katkinson

Currently I see this as in a correction period. currently its in C which I believe will find support around 53.25-.35. This will bear flag out overnight and resume selling pressure sometime tomorrow.

Katkinson

Tonight and Tomorrow Prediction