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Crude Oil in the time zone

we Could be looking at Low for the 13th - 14th July so now we are in that critical time zone to watch for a reversal in price . I have prepared some hand drawn notes and calculations based on the Aug 22 Contract so all of these figures and calculations are based on that particular contract .

Swing A ran down 8 days which is much shorter than the current swing down at 30 days .

Swing A declined 36.97 pts or 28.33% which is reasonably close to the current percentage decline of 24.27% so we are also fairly close to the price amplitude of that swing . If we project 28.33% down from the 14th June Top we get 88.65 which is a fair way off the current low price but worth noting as an important figure .

The third diagram breaks down the current swing into three sections and you can see the first leg down declined 22.15 pts and the second leg down from the 29th June to the current low has dropped 20.38 so we are reasonably close to balancing out this first leg down - in some instances the ranges can match almost exactly and at other times for a different governing factors at play that can cause a range to fall short or over extend so these calculations are a useful indicator to gauge the depth and duration of a future range .


The price calculations below highlight some important price points that are situated fairly close together indicating we could either be at the bottom or very close to it . the initial projection was for a Low into the 14th - 15th but after a more detailed revision we could see Low between the 13th - 14th so studying these price calculations will hopefully give us a clearer perspective on what to expect for Low .

123.68 / 1.333 = 92.78 harmonic ratio

93.67 - 114.05 Top = 180 Deg

93.20 - 123.68 = 90 Deg

94.00 is on the 0 Deg Time Angle

so there are several harmonic indicators that point towards a low around current levels so we should watch to see if can hold above 92.78 which we are presently above and also the 93.20 and 93.67 level .



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Thank you, Grant! A timely update.

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