WTI Roadmap March 2017

Mar 17, 2017

Inflationary boom..followed by a bust

Mar 19, 2017

Note

From trend perspective, Wave B has been developing since May 2016 to now while at the same time USD has been developing Wave 5 up. So clearly this has been major headwind but is about to disappear. The only problem still is the high net spec long positioning which argues for some more basing

Mar 21, 2017

Note

Seems 46 lower bound

Mar 22, 2017

Note

It looks as if ED is forming on the lower degree scale in wave 5 position of what i think is C of C

Mar 22, 2017

Note

Wave B seems to me is forming a protracted triangle since May 2016. Currently should be in Wave 5 of C of C (so the 3rd wave within the triangle should be completing in short order and this would be final opportunity to buy oil. Hopefully some more net spec longs have unwound this week

Mar 22, 2017

Note

Or alternate is bearish 3D pattern which in any way should lead to 66/67