Crude Oil - Low expected near 38.78

WTI Crude Oil - Low expected near 38.78 
 
The rally from the mid-February low at 26.06 was in five waves (impulsive) indicating that at least an zig-zag (A-B-C) rally should be expected. 
 
Wave A rallied in five waves from 26.06 to 51.67 and has been followed by a corrective decline (double zig-zag correction). This double zig-zag correction is now close to completion and is expected to complete near the 50% corrective target at 38.78 from where a new impulsive rally towards at least 62.58 is expected. 
 
The first strong indication of a bottom being in place, will be a break above minor resistance at 41.83, while a break above 43.74 will confirm the bottom is in place and a new impulsive rally is developing. 
Roelant
2016-06-26
Hi Elliotwavesurfer,

Your forecast of the EURUSD waves and reversals on Brexit day were spot on! This was not chaos, the crowd followed a pattern!

GBPUSD was abolutely 100% too!Unbelievably accu...
Tommy
2015-02-26
Great call on nat gas

Just wanted to drop you a note to say great call on nat gas as it held 2.67

Great job.

Tommy
Felipe
2014-05-26
Hi,

I recently tried a 30 day membership and I am very happy with the service. Pls keep up the great work!!! I will continue renewing!!

Felipe