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Crude Oil update

At this point it looks like we could be up into either Fri 20th or Mon 23rd Jan where Top is indicated so tomorrow I will try to narrow that point down if possible and provide some strong technical price points to monitor if we continue moving up into the target date. At this point I haven't calculated the projected Low as this is the second section of the analysis so I will try and complete that in the next day or two. Looking at the diagram below which presents the swing down from the 14th June Top you can see both the Minor and Intermediate counter trend structures contained within the main downswing. It is interesting to note that the first move up into the 30th Aug ran out 14 days then we had the second small advance into the 10th Oct Top which also ran out 15 days compared against the current projection into the 20th Jan which will also run out 16 days balancing against the previous Minor time periods. Another very important observation is the counter trend structure beginning from the 26th Sept Low running up into the 7th Nov top which measures 43 days in time or just under1/8th of the circle. Compare this structure to the current swing beginning from the 9th Dec into the projected 20th Jan Top which also measures 43 days so both of these counter trend reactions had different time components within the minor sequences but there is a larger harmonic time convergence between both of these swings. The overall advance on the first swing was 22.9% into the 7th Oct Top so if we project this figure off the base we get a price of 86.12 which is a bit to far off but we should list it as a reference point just in case as we still have another four days to go before we reach the target date. Breaking down the two swings off the 9th Dec low we can see the first swing was up for 25 days an advance of 16.2% into the 3rd Jan Top compared against the current move up into the projected 20th Jan Top measuring around 16 days so it will be interesting to see if we balance against this initial upside range. This evening when I arrive home I will try to present a diagram outlining the trend structure and calculate some important price levels to monitor if we do continue to move up into the target date.


Diagram is up indicating Top for the 20th Jan. Notice the matching time sequences between the two swings beginning at point AB which ran out 43 days into the 7th Nov Top which was followed by a significant decline compared against the current CD sequence which will also run out the same period of time into the 20th Jan projected Top . Both of these swings are equally balanced in time but the minor time sequences are calibrated differently. 1.125% of the base = 78.84 and we are currently above this point indicating higher - 1.25% of the base = 87.60 which is a way off but we will still include this price level as a future marker . Half a Square up from the Low = 78.68 and once again we are above this point so in a position to move higher into the Cycle date . 87.50 = 180 Deg in longitude from the Low so another high upside target that we will mark on the charts as a reference point . We still have another 4 days of trading left before we move into the target date so it will be important to see how we move and the pattern of trend leading up into this point . No action should be taken at this stage until we approach this point and if you are long this date would represent a good point to exercise caution if we move up strongly into the 20th Jan . From here there is a good chance we could either be down till the 6th Feb or the 14th Feb so once the Top point becomes established and if we do start moving down the first target date of 6th Feb would give us around 17 days in the position so hopefully a few days after the Top has been established and remains intact we will shift our focus on to the first target date of the 6th Feb


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bliss2b
bliss2b
Jan 19, 2023

Thank you my friend. I have a question relating to Gann rules - specifically for this one as the high is expected on Friday. What are your thoughts on the rule: "If high price of any week is achieved on Friday, then expect higher prices in the next week"?

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lamercampy
lamercampy
Jan 19, 2023

We topped out on 18th.

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