Just an Idea of what could or could not happen..
Here, my thoughts about S&P500, all of them match.
WTI UPTREND CHANNEL OBSERVED... It's Ok some red candles due to the fast growth on oil prices. However, oil prices are between the uptrend channel, volumen has increased . Let's reach the 50.34 or 61s Resistance levels.
New Elliott Waves cycle just started !, Why Sir Warren Buffett is Investing millions on oil Companies ? (not a coincidence) well, this migh answer your question Notice the Candlestick Reversión Pattern (Green circle) on Monthly Candles, what gives an Stronger signal. Arabia Saudi, an Oil based economies are loosing a lot of money because of Low/mínimum...