Fomenka

Fomenka Updated 

#USOIL before we celebrate the end of correction let me cast some options of what wave b can look like.

Fomenka

COVID marked the supercycle's low in oil. Since then, the price has rallied to form a double zigzag consisting of (A)(B)(C). Since February 2022, the price has been falling in a very choppy manner. Recent developments suggest that the price is forming an expanding diagonal. When completed, I believe the price will drop to $60/bbl in 2025. The alternative is...

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The larger picture supports the blue case, in which wave (w) may have already been completed and we are approaching a period of rapid growth to $100 per barrel area. Such a scenario would appear more organic in the sense that wave C of (X) must hurry up; otherwise, it becomes too disproportionate to A and thus less likely. As of now I cannot see any immediate...

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Today a friend of mine attempted to talk me into crypto. I dusted off my BTC chart and voila!.. I saw only bears... I might be wrong, though. I don't usually follow BTC, but this count came without any effort. I'm not saying I'm 100% right, but be careful, guys.

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Oil has broken through extremely strong resistance. However, the area is contaminated with strong resistance levels every $2-3 USD per bbl, making the levels technique less effective. In my charts I chose to delete the levels. Three options are on the table. 1. Bold scenario assuming a shallow retracement in wave B (zigzag, double zigzag, flat, triangle, or...

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In addition to the previously posted scenario, I'm preparing for a situation in which the expanding diagonal is nearly complete and we're in wave [ 5]. The previous subwaves are sufficiently complex to contain whatever you are looking for. The structure appears to be sufficiently developed, and the more compact scenario may hold true, with the price unlikely to...

Fomenka Updated 

Answering requests and attempting to make the analysis more useful, I begin providing boxes instead of specific structures where there is no certainty about the shape of the incoming wave (on top of the uncertainty that I am incorrect about the course of action). I'm doing this to create a product that will meet your needs, and to avoid giving a false confidence...

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I wonder it the Texas border dispute can put Natgas on fire.

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I continue to elaborate on a possible expanding diagonal triggered by how the price subdivided in wave [ 1]. Very speculative of course.

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In oil, I anticipate a complex expanding diagonal. Normally, I'd look for simpler alternatives. Now, however, I am basing my scenario on wave , which is subdivided into (w)(x)(y), which I cannot ignore.

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Natural gas. I'm just counting waves, trying not to pay attention to reports of a warm winter and general pessimism. I correctly predicted the recent top, but I did not expect the price to fall so low. In retrospect, it appears to be fine from a technical standpoint, despite some disproportions on minute timescales, but hey... it's gas. It is frequently...

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Oil looks like in a runaway scenario. This is the lower timeframe of my scenario with expanding diagonal going above 100. If the market gaps at the open there is a possibility of forming an ending diagonal and reversing the trend after that.

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An extremely busy chart with a simple notion that wave 1] is likely to be done and we are going through a correction that might prove to be flat considering the wave structure so far.

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Silver is likely to trend lower, swinging up an down as it goes through a sequence of zigzagz and possibly nested abc flats and triangles. The chart is indicative.

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Sorry, a more nuanced and enhanced picture on the lower timeframes. I am getting more convinced that the diagonal will expand. The grey case is a probability, although I cannot count a clear wxy in wave [1 ].

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Though my base case scenario is a contracting diagonal, I am also considering more extreme options to stay open-minded. Technically it would be the same.

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The oil is less clear in the short term than it is in the long term. I believe a diagonal is forming, but it could be expanding or contracting. Better tactics is perhaps to stay long until it is clear which one it is. Not advice, of course.

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After months of tracking Oil's decline, I was finally able to put the puzzle together. I rearranged the count so that it now makes much more sense. It does not alter the overall analysis, but rather strengthens it because the count is more simple and natural. Wave A of (W) absorbed all wxy zigzags into leading diagonal and wave (W) has grown in size. Wave X...