CL_F (Oil) A buying or selling opportunity?

We at Elliottwave-Forecast.Com look at the Market as a whole and we keep track of many instrument to get an edge in the Market. At the end, nobody is 100% correct, but having an edge is the key for traders to help plan their upcoming trades. In this article, we look at the GCC (Wisdomtree Commodity Index Fund) which is showing a zig-zag structure within the Super cycle degree down from 7.2008 peak and it has reached the Blue box buying area which starts from 17.35. This structure and extension within the Blue Box will affect many instrument across the Market including $CL_F (OIL), $XAUUSD (GOLD), $XAGUSD (SILVER), $SPX and also $DXY.

GCC (Wisdomtree Commodity Index Fund) decline from 2008 peak

Chart above shows correction ending in the blue box and rally resuming for new highs above July 2008 peak which is the most aggressive view. There are alternative views and one of them is a bounce in a wave ((4)) when we are currently ending wave ((3)) and another low in wave ((5)) to complete wave c red. Either way, when we relate this to $USDCAD, it is easy to time a turn when the pair reaches its own Blue Box which will create either a strong rally in GCC and a strong sell off in $USDCAD or a bounce in wave ((4) and a 3 waves pull back in $USDCAD. In either case, a reaction higher should take place soon in GCC.

ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 50 instruments including FX majors, Gold, Silver, Copper, Oil, Natural Gas, Soybeans, Sugar ,Corn TNX and a number of Equity Indices from around the World. Our clients also have immediate... More

Disclainer: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be sued and/or charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.