Elliott Wave Analysis of Crude Oil – 2 Nov 2011

Elliott Wave Analysis works very nicely in commodities. There is a lot of money to be made if you can apply the techniques you learnt in Five Waves to Financial Freedom. Trouble is, even if you learn the methods, you need to have the capital and the stomach to pull the trigger at the right time, and more importantly, to stay with the trade until your sensible stops are done or your profit levels are reached. This is a challenge that ranks at par with being good at analysng the markets.

Now without any further ado, let me present you with your favorite charts! Enjoy!

By the way, I am off on an exotic holiday to Cambodia tomorrow.
Best of luck in the meantime, and if the Forum goes live, you may start sharing your thoughts and ideas with other members right away.


  • Vishal G Ruparel

    Ramki enjoy the time off, cant think off a better time to escape from this madness!

  • Dan

    Absoluately agree,
    one thing is to know what to do, another thing is to do it.
    Great charts!

  • Ajay

    Thanks for your analysis
    It is helping me a lo to learn

    Wanted to ask one question:-
    As compared to other waves do not you think 5th is getting way too big and time consuming???
    plz let me know

  • Tarun Dang

    I don’t follow crude oil but I regularly visit your blog. Couldn’t help but notice that the second chart is very reminiscent of the NSEI charts, at least for the last 6 months. And interestingly we completed a double bottom on Nifty as well. So probably, taking cue from the crude oil chart, Nifty could be headed higher too in the short run.

  • Nayan


    Your posts are very helpful! You deserve this break… Enjoy & have a great time off!


  • harsh dixit

    dear sir , there is a small problem here that sub wave iv come in sub wave i. i saw it on netdania .com.pls clear that if some problem in netdania.
    thanx in advance
    your fallower

  • Joe

    Hi Ramki

    One clarification, the 4th chart you label i wave
    within 5th wave one notch up, shdnt the prior high be i and
    the one you labeled as i shd be iii. Was not clear
    Great work !!!

  • Giriraj Sharma

    Hi Ramki,

    It seems like the recovery from bottom is a A-B-C recovery, in which A wave completed where you have marked 3 (red) and 4 (red) is a B wave. What we are witnessing now seems to be a longer C wave which is 161.8% of A wave.

    What are your thought?


  • Abhilasha


    Crude @ $102. Request you to please post an update. I also have a question. With INR depreciating with respect to the dollar, in INR, crude has surpassed its previous swing peak of April-May 2011, while in dollar terms, it is still 10% lower. Does that make any difference to wave counts? Request you to post wave counts for crude in both INR and $ so that we can understand better. Thanks.

    • Abhilasha, expressing the price of a commodity in different currencies will give you different levels to reckon with because of the movement of those currencies against each other. He world trades crude in Usd. So your best counts will be found in that currency for crude.

  • Soni Hitesh

    Respected Sir,
    Crude trade right now @ 102.77 so this wave we consider 5th of 5th wave extension.
    request you to please blog an update.

  • prithvi

    Dear Ramki,

    As per calculation of forum by saha, crude now 103.37 US$.
    Now is it end of uptrend?
    Please update about crude.

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