Oil : pay attention to the swing of the pendulum

Our latest forecast chart must have long-fire, we maintain a forecast of 'corner' on the physical fueled by massive cuts from OPEC, growth in China opposing the Cassandras and the entry into the winter. The Light Crude Oil is near a key point on the level of $ 35. This last point is our support before the historic area of $ 10. Rising oil has performed well in five waves Elliott wave drop from the level of Protected content to reach that $ 35 reflects the nervousness of markets and exaggerations in terms of amplitude. But forget it on a piece that pulling on the elastic, it could come back strongly in the image of the last movement of rising and falling back on the EUR / USD currently uncorrelated oil.