80% Chance OIL Will Drop Soon

The range-bound oil may break very soon, I think within 1-2 weeks. I rate the probability about 80%.

Since oil and SPX500 have good correlation for the past 10+ months, SPX500 will likely have a small correction too.

Commento:

At this point, a truncated wave 5 is likely though not conclusive yet. Or the original count is simply wrong.

We simply have to wait and see.

Commento:

The bigger picture though it's still valid and maybe even more promising.

Commento:

Break up or break down? We will know by the end of this week.