WTI Crude Oil Daily Chart Rocket Ride Review

 

clz16-oct-7-2016

 

Everything so far looks impressive if we get caught up in this crude oil bullish cycle. As with gold, I’n not completely convinced that an Intermediate degree correction over and a completed done deal. Crude oil could turn and head due south again, back to the $42 or even $40 base. 

Even a “D” wave top could be in play, which would end up giving us a triangle, and we know what triangles can eventually do.  A triangle inside a “B” wave correction would be fantastic as triangles are one of the best forecasting waves around.

Compared to my last gold/oil ratio reading, oil has become a bit more expensive at just a bit under 25:1 which is still fairly cheap when using gold as a measuring tool. 

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