CastAway Trader
CastAway Trader Predict the Next Market Move

In my macro update posted on May 22, 2019 I showed you two alternative paths for Crude Oil.

Crude Oil - daily chart updated on 5/22/2019

At this point I consider that red path on the chart above as my primary scenario. My long term view remains bearish. Before we start the final move lower in wave ( C ) of ( 5 ) we should first complete wave ( B ) up. That corrective wave ( B ) up is subdivided into A up, B down and the final push up in wave C of ( B ) up. Crude looks like it has started that rally that will finally complete that whipsaw looking corrective wave ( B ) up. In general, any wave B is the least predictable wave. That move up may retest or get a little bit higher than the previous top made by wave A of ( B ) up ( 67.03 ). 

Crude Oil - 30 min chart updated on 6/25/2019

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