USOIL Elliott Wave long-term forecast (09/10/2016)
It is almost obvious, that we are finishing wave 4 of super-cycle in wave C of grand super-cycle.
Right now there is a small short-term correction, I expect good buy opportunities at 47 - 48.5 with TP1 at 55-56 and TP2 at 59-61. Additional confirmation will be after break-out of neck line of reversed head and shoulders (purple line).
I prefer to make SL at the level of 1% of assets under management, so decide this for yourself, but never forget about SL!
Right now there is a small short-term correction, I expect good buy opportunities at 47 - 48.5 with TP1 at 55-56 and TP2 at 59-61. Additional confirmation will be after break-out of neck line of reversed head and shoulders (purple line).
I prefer to make SL at the level of 1% of assets under management, so decide this for yourself, but never forget about SL!