Jun 262012
 

Well, I thought it might be a good idea to post my Elliott Wave analysis of Brent Crude Oil as well, and it appears on MarketWatch today 26 June 2012. You guessed right! I am a bear there too.

  6 Responses to “Elliott Wave Outlook for Brent Crude”

  1. Good Morning dear Ramki. This is a bit difficult one[brent crude]. 3 important points I would have easily missed had you not marked on the chart:
    1] The irregular b wave of the fourth wave[expanded flat correction]. I would have taken it as the third wave.
    2) After the completion of the extended fifth wave the corrective A wave is a complex zig zag structure.
    3) The ensuing B wave is again a simple flat wave travelling right upto the start of wave A.
    I hope my study is right. Looking forward to your next post.
    Thanks and regards
    Dr Sanjay Pote

  2. Hi Ramki,

    Now that Brent has rallied up 10% in the last couple of days, where do you see this heading?

    thanks

  3. hello sir, its quoting around 105 usd. whats the view now ?

    • Hello Riddhi, I have already indicated that I was probably wrong on that count. I think we have some very good short term resistance at 107.69 from where a correction back to around 98 is likely. Remember, one always need sto have stops!

  4. Ramkiji, Haven’t found any post on Sugar Commodities on your blog. If time permits give your analysis on Sugar Commodity.

    Thanks in Advance.

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