WTI over the next few months, some ideas

2016년 7월 3일

Multiple layers of channels are shown, multiple wedges, hinged around EIA reports - other major unanticipated supply disruption or macro-economic news, such as Brexit, clearly would throw spanners into the works.

A few patterns to note.

1. Channels - regression
a. Major upward from February
b. Sub-Major sideways - call it May
c. Minor Near term channel from 6/27

2. Wedges shown in black.
- 3 small within 1 larger green outlined

3. Fibo on the May horizontal channel

7/6 - in reaction to supply risks dwindling, API report we will break out of wedge to test larger one to upside or downside - I anticipate odds are downside

7/7 If API tests 46.50 again, the EIA has the opportunity to complete the 3-drives and break the larger wedge to the upside, touching the top of the May channel at 52.5 over a week period.

Will watch this as it progresses and update if I can figure out how to update a published idea rather than keep publishing new updates!