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Strategies & Market Trends : John Pitera's Market Laboratory
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To: The Ox who wrote (17536)1/5/2016 9:19:59 PM
From: John Pitera5 Recommendations

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The Ox

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Crude 20 Year Monthly, 10 year weekly and daily...... looks like the bear market is not over yet.

But the weekly chart is showing some constructive and indications that a significant bounce is not that far away.... remember that is the weekly timeframe.

The 20 year monthly Chart illustrates the Elliott wave Super Cycle Bull Market the began on Dec 21 1998 at $ 10.65 and topped out at $148 on July 2nd of 2008. The chart illustrates the fairly straight forward A-B-C corrective process that has been in place after the 10 year bull market.... at the end of such a huge Bear Market in Crude it is as tricky to catch the bottom as it is to determine exactly where a parabolic, exponentially rising market will top out.

John



This Monthly chart has the Elliott wave labeling of the Super Cycle and illustrates the Fibonacci price projections for the bottom
.

John
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