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Quick Update on Crude Oil from Sid at

 Crude Oil  Comments Off on Quick Update on Crude Oil from Sid at
Oct 132016

Quick Update on Crude Oil from Sid at  Click on the chart to enlarge.

The combination of Hurst cycle analysis and Elliott Wave is suggesting that the recent bullish period for crude oil has likely come to an end.

A Hurst analysis starting at the 2008 high suggests that oil has topped, and will move down next through September of next year (2017).  If that scenario is correct, we are likely finished with primary (burgundy) wave 4, and burgundy wave 5 will take oil to new lows below the February 2016 low into next year.

A Hurst analysis (of the continuous CL futures contract) starting back in March 1983 is also bearish from current levels, but only until early December 2016.   In that scenario, Oil is unlikely to make new lows below the February 2016 low, but wave 2 (black) is incomplete.

Both scenarios are bearish from about now (mid-October 2016) through at least early December 2016.  Here’s the weekly chart:

Oil QM weekly 10-13-16

So how can this be traded?  That would require additional daily, 240-minute and 90-minute charts.  Please join me for the next Weekly “Counts” webinar, Sunday, October 16, at 9am (CDT).  During each weekly webinar, I present my current combined Hurst and Elliott analysis using multiple timeframe charts on many of the world’s major stock markets, commodities, currencies, and bonds.  Additional methods of technical analysis are also considered, including sentiment extremes, trend exhaustion, multi-timeframe MACD divergence, and inter-market correlations.  A recording of the webinar is made available to all subscribers immediately afterwards, whether they were able to attend the “live” session or not.

Don’t have time for a multi-hour webinar?  Maybe your understanding of spoken English is not so good?  Then please consider my EWP ScreenShots service.  EWP ScreenShots editions are published on Sundays and Wednesdays, and include multiple timeframe analysis of SPX, DAX, Gold, Oil, US$ Index, EUR/USD, and treasury bonds (TLT of ZB contract).  The Sunday edition also includes many bonus screenshots, including the great majority of items I cover during the Weekly webinar.  All EWP “Counts” webinar subscribers receive all editions of EWP ScreenShots as a free bonus.


Sid’s latest call is working well! (Long Crude Oil out of a 20-week Hurst cycle trough, from a major Fibonacci target)

 Crude Oil  Comments Off on Sid’s latest call is working well! (Long Crude Oil out of a 20-week Hurst cycle trough, from a major Fibonacci target)
Aug 192016

Following a highly successful long gold (and gold miners) call in late May, and then a call for a good-sized rally in US equities out of the post-Brexit vote low in late June, Sid Norris from suggested to paid subscribers that crude oil was due for a large bounce starting as early as late July.  That trade is also working very well, and subscribers are once again benefiting greatly from trading based on Sid’s unique method of combining Elliott wave and Hurst cycle analysis.

Here are a few of the actual screenshots Sid sent out to paid subscribers.  First the 240-minute chart of the QM futures contract on Wednesday, July 27:

Oil 240m 7-27-16

Then, the 240-minute chart of the QM contract on Sunday, July 31:

Oil QM 240m 7-31-16

Then the 240-minute chart of QM on Wednesday, August 3:

Oil QM 240m 8-3-16

And the 240-minute chart from Sunday August 7:

Oil QM 240m 8-7-16

and the 240-minute chart from Wednesday, August 10:

Oil QM 240m 8-10-16

and from Sunday, August 14:

Oil QM 240m 8-14-16

and finally, from Wednesday, August 17:

Oil QM 240m 8-17-16

Crude Oil closed today (August 19) at $49.050, up over 23% in just three weeks!

Each weekend edition of EWP ScreenShots includes weekly, daily, 240-minute, and 60 or 90-minute charts of Oil.  The mid-week editions include updated 240-minite and 60 or 90-minute charts.

Once again, the combination of Elliott Wave and its associated Fibonacci price targets and Hurst cycle analysis has proved its worth.  Notice the Fibonacci target (@ $39.525) where blue C would equal blue A times 1.618.  That target is shown back on the July 27 chart.  Oil (QM) bottomed on August 2, at $39.25.  Also, notice the Hurst 20-week cycle trough window shown in green on every chart above.  20-week cycles troughs are imminently tradeable.  Just recently, the large, late May bounce in Gold was out of a 20-week cycle trough, and the large bounce in US equities starting in late June was also out of a 20-week cycle trough.

Note from Sid:  Please join me for my Weekly “Counts” Webinar, where I go over all of my Elliott Wave counts and associated Fibonacci price targets for many of the world’s major stocks markets, commodities, currencies, and bonds.  Hurst cycle analysis is considered on almost all items.  A link to the recording of the webinar is emailed to all “Counts” webinar subscribers immediately afterward, whether they were able to attend “live” or not.  Alternatively, my EWP ScreenShots service provides updated multi-timeframe analysis of the SPX, DAX, Gold, Oil, TLT, US$ (DX), & EUR/USD currency pair twice each week.  All “Counts” webinar subscribers receive EWP ScreenShots as a free bonus.  Many traders and investors have found my analysis quite profitable.  — Sid

Elliott Wave Analysis of Oil (QM futures contract) by Sid from

 Crude Oil  Comments Off on Elliott Wave Analysis of Oil (QM futures contract) by Sid from
Sep 182013

Oil QM daily 9-18-13

Elliott Wave Analysis of Oil (QM futures contract) by Sid from Click on the Chart twice to enlarge.

Oil may have just finished a blue wave 4 triangle, and if it did, Oil will be shooting to the upside aggressively for probably the next couple of weeks at least. If an upward thrust from a triangle is underway, it has logically coincided with US$ weakness over the last couple of hours (leading into the FOMC announcement, due in about fifteen minutes), so if the size of the triangle is an indicator of the size of the thrust, and it usually is, the U.S. Dollar may continue to weaken until this last hoorah runs its course. The reason I say “last hoorah” is because thrusts from triangles are terminal, meaning they mark the final move of larger patterns.

Ultimately, a large spike in oil could easily deal a crushing blow to the already weak economy, so if the upward thrust moves as high as the target zone shown on the chart, it will likely act as the only trump card left that could defeat the fed’s printing press.


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