WTI to $80.00 by end of August?

I am by no means an Oil Trader.
But I do trade Commodity Currencies, especially CAD.

Just observing the price patterns, and considering the time of year.
The Elliott Waves and Fibs seem to line up nicely with the calendar.
I have no idea what OPEC or the Geopolitical situation might do.

So not a trade here by any means, just putting it out there for consideration.

Kommentera:

Oil still climbing, but TA says it is near 'a' peak.
So I will be watching for a pull back week of May 21st/
Will post a new Idea or update here, but looking for signs of pullback:

Kommentera:

Well, the pullback came as expected.
and WOW, straight down thanks to OPEC.
Will be watching the support zones for possible bounces.

Kommentera:

Oil fell on OPEC news I guess.
It came to rest exactly in the fib zones as anticipated.
But I think it will go to the next zone, fine tuning those calculations now.