Elliott Wave Analysis of Crude Oil (QM futures contract) by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge.

Here’s a sneak peek at my current main Elliott Wave count for Crude Oil (QM), depicted on a weekly chart.

Please join me for my weekly 2-3 hour LIVE Sunday morning webinar. Covered topics include my long, intermediate, and short term Elliott Wave counts and price targets for the major world stock markets, commodities, and currencies, as well as tips on how to improve your own Elliott Wave technical analysis. If you enroll, but can’t attend LIVE, you’ll automatically receive a recording of the webinar. Here’s more info, including how to enroll.

Best Regards,

P.S . . I was on vacation last weekend, but in the last “Counts” webinar (on September 11, 2011), I showed a bearish 1-2-1-2 setup in Silver, and stated that I was definitely bearish the XY contract. Silver was at $41.52 at the time. It closed Friday (9-23) at $31.14, down 25% in two weeks. Yay!