Crude Oil - Was Rally Expected ?

Crude Oil rallies almost 30% from lows

Nymex Crude from lows of 37.75 yesterday tested high of 49.19 ...

There is always an argument that Technical Analysis is for short term ... Can Technical Analysis assist in interpreting long term trends ???

Probably Yes. If done in an appropriate manner ....

Here is one of such Examples ...

In January 2015, Our research indicated crude can bottom out near 38 - 40

For more details visit:

http://swing-research.blogspot.in/2015/01/can-crude-oil-regain-some-charm-in-2015.html

Our update also indicated intermediate bottom near 43 - 44 and expected bounce near 66 - 68 and high was around 65.20 ....  

From there again tests 37.75 (expected low 38 - 40 about 9 months ago ....

Rest is seen in charts below bounces 30+% from sensitive bottom:

                                                                      Daily Chart

To Know more about Elliot Wave Counts and where probably markets are heading towards intermediate and short term levels, educate yourself  with us from simple to advanced concepts contact us.

Raju V Angadi Vishwanath, B.E., MS, CMT

Equity Technical Analyst

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