10$ Oil is now History

10$ Oil is now History - think ahead

Published: Thu, 04/23/20

Who could think that Oil could hit 10$ or lower, if you think that was impossible, then you do not know enough people. I know some and I too published a work in 23/04/20 on my blog as discussed below on the long term wave count for Oil that proves the naysayers wrong. On LinkedIn someone quoted that EW works only in hindsight. But then EW is the only behavioral study that is meant for forecasting, accounting for every social and economic factor. It is therefore a social science if understood well.

Now what has happened in the Oil market sooner than anyone would have thought is that prices have achieved their supercycle degree target. The crisis that Oil was to create in the next major bear market is already past news. And with the FED buying the Junk bonds issued by Shale oil producers the impact of that has also been nullified.

So the next crisis or bear market phase ahead if any cannot be about oil anymore. That story has been brushed away. You will have to look for new spots of trouble in the economy when that happens. Oil is now yesterday's story.

Rohit Srivastava

The Truth About the Markets

Crude -

I wrote about hitting the 22$ mark a few times in the last few years but it was slow. Now all of a sudden we are at that trendline of the lows from 2008 and are sitting on top of it as though we are about to break it. The speed of the decline in wave Z raises the risk that 22$ as a support will break. Then I have to take a step back and look at the 100 year chart of Oil from Robert Prechters work. there wave 4 ended in 1998 at near 10$, and if this is a Supercycle degree deflation Oil goes back to the wave 4 low near 10$. So do not be surprised if we break 22$ as a support that we are eventually headed toward 10$. Outrageous but true.

crude 220320

Here is a breakdown of wave Z, that is developing as A-B-C and wave C is always 5 waves down. So we are in wave 3 of C now. No bottom in sight medium term.

crude 220320a

'' 30FREE ''

Use Coupon Code - Get Started

Don't WAIT for this update! GET Nifty Daily Weekly and the Monthly Long Short report and everything else directly in your mailbox

STAY AHEAD of the market turns. 3 Steps away. And WORTH many times more than what you pay.

Go here SUBSCRIBE NOW

Rs.700 PER MONTH

CCAvenue - PayPal

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rohit Srivastava
www.indiacharts.com
For accurate market analysis. Technical analysis is a study of past data to assess future probable outcomes. It is our endeavor to discuss high probability set ups for traders and investors in good faith. However this is not a solicitation to buy or sell stocks futures or options or any security. Trading in any financial market should be done with sound knowledge and the help of a qualified investment adviser. Stocks based on the Elliott wave model are based on the Fibonacci fractal of the market and momentum indicators, Levels are based on Fibonacci maths and are only indicative of what the mathematical model throws up. Readers may download the free Elliott Wave Calculator to do it themselves. This is not a research report. We are not investment advisors This is not a recommendation to buy/sell.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Value Wave Stocks discusses the short term trading set ups that we use while taking our trading decisions. Value wave Investments. discusses the long term set ups that we use while taking our investment decisions. We may have holdings in these stocks and are interested in these opinions. This is not the only reason considered while taking our actions. Kindly take the help of a qualified investment advisor before trading. We have active open long and short positions in the futures/options/stock/commodity/currency markets at any point of time. The opinions here are for your education and understanding only of how we identify stocks to trade/invest in. We change our opinion daily and even hourly. Any actions taken by you are at your own understanding and risk. We do not offer personalised advise or research of any kind.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You have received this mail because you signed up for it on our website and agree to our terms and conditions and privacy policy listed there. If not, you may unsubscribe with the link below at any time.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Please do not reply to this message. email to indiacharts@gmail.com