The GUNNER24 Main Target of this year for the Crude Oil is at 80.55$. This price is calculated triple upmagnet on yearly base and usually should be reached or tested sometimes in course of October 2018.
Everything about this frequently postulated yearly triple magnet can be found here again:
Free GUNNER24 Forecasts, Issue 07/01/2018 "Crude Oil up to the 80s - the next important intermediate steps"... please click here to read this most important forecast.
Above I have again inserted and linked the monthly 8/9 Candle up out of # 1 // final 2017 Low which actually shows 2018 MAJOR uptarget derivation best.
At the moment, the oil trades shy below 71$ and thus is still a long way (9$ or 13%) from a final execution of its GUNNER24 Main Goal and has about 6 trading weeks time to finish it on schedule, whereby we are always allowed to give 1, 2 weeks, until such an extremely important price-time magnet on annual base is then probably processed.
Right now, the battle takes place which decides whether the year goal, as calculated many months ago, can be completed in time and at the right price.
For the Battle Royal recognition and evaluation, we analyze the weekly chart with the help of two weekly up setups. First one starts at the final low of 2017, the other one starts measuring upwards at the final low of the current year:
I see the developments of the summer 2018 trading as follows:
With the received 2018 highs, the 4th double arc bull market magnet within 7 Candle up starting at 2017 Low was finally and decisively overcome. This was a next big GUNNER24 Buy Signal in the weekly time frame and has activated a test of 5th double arc next higher important weekly resistance magnet in trend direction. Main trend is of course up since June 2017 important higher bull market low...
Higher bull market highs which have been able to overcome the 4th double arc main resistance finally is another sustainable bull market continuation signal which is confirmed by the corrective move behavior after received 2018 top. The correction or pullback cycle which has developed after bullish 2018 extreme ALWAYS took place ABOVE the 4th double arc which was downwards sloping main support area.
The recent correction/pullback cycle "textbook like" tested the previously finally upwards broken 4th double arc environment from above, just to confirm the 4th area as future main support or important double arc support for entire 2018.
Summer 2018 corrective cycle ended finally at last = third very successful test of 2017 Support Angle. See, that naturally anchorable 2017 Support Angle is nicely confirmed rising support in the weekly chart & on YEARLY base! Its most responsible support for the achieved higher bull market lows.
At very last test of 2017 Support Angle and at same time the last test of 4th double arc from above the current upcycle in the weekly chart was triggered which - usually - will be able to test 5th double arc upmagnet or activated bull market target - within next 1 to 4 week candles at round about 74$.
So, 5th double arc uptarget work off is close according price and time and with a +95% likelihood the oil will test or reach a 74$ within currently underway weekly uptrend:
==> First uptarget is 74.00$/October 2018!
Well, usually the Battle Royal will end very positive for all the oil bulls which are now battling hard with the bears, cause GUNNER24 projects 3$ higher minimum for the current underway weekly uptrend:
Above is second weekly GUNNER24 Up which actually influences the market mostly. It is a very important measurement! It measures upwards from the final low of 2018 to the current 2018 Top.
From 2018 Low week to 2018 High week we count 22 candles, thus this upleg was obviously oriented to the Fib turn number 21. That natural major turn signal caused a so to say "textbook" time-price downcycle which accurately ended at 2018 Support Angle and at # 28-summer low! There and then the now running uptrend has started.
And you see it by your own at current quotations the Blue Arc is tested. Blue Arc is of course an arc which acts on yearly base because it depicts the future resistance of the 2018 Low to 2018 High upwave/initial up impulse.
==> Crude Oil is at Blue Arc, very important and usually very strong arc resistance on yearly base.
==> It now fights for overcoming that yearly resistance and if it will be successful doing that... and it should, cause A) weekly 7 Candle up signals that outcome with a 74$ is imminent, the above anticipated Blue Arc upwards break should release a lot of bullish forces cause overcoming a threshold on yearly base usually triggers such reactions.
Ok. We recognize a "make or break" situation! Where the bulls probably B) have the upper hand right now. After all, the current upward cycle started precisely at natural important Gann Angle support (1*2) out of an annual low, thus weekly upcycle was triggered by strong support existing in the yearly time frame!
The first weekly close above the Blue Arc could trigger enormous upforces in this special case, maybe even a bullish panic wave into 1st double arc uptarget/upmagnet! Just because now usually the triple yearly upmagnet at 80.50$ is due for processing in course of October.
==> A 6 weeks lasting bullish panic wave is allowed to start soon! This implies the method. Therefore we should buy the possible next test of rising dark-green dashed placed weekly uptrend support. The rising weekly uptrend support has been tested for 3 week candles, why not again in the course of the next week...?!
We should be willed to enter a long position at 69.35$ until next week Friday!
To conclude todays free forecasts, I wish to present a valid = confirmed up setup that has developed in the daily chart. It generated a daily GUNNER24 Buy Candle recently. Means, also in the daily chart we have some prove that the Crude Oil is now a strong long:
Above is a 12 Candle up that starts measuring upwards at final June 2018 Low. Please observe that Blue Arc was often negative tested daily resistance arc until this week Tuesday. Then the Blue Arc resistance function has finally ended, I guess! Wednesday to Friday candles have cleared negative Blue Arc influence finally cause market delivers higher highs, I suppose...
==> This setup signals uptrend continuation for shortterm!... and adds to the bullish view for at least a 74$ test in course of October!
This week daily closings have activated 1st double arc in trend direction as next important daily uptrend target. 1st upmagnet is at 74$ for mid-October!
==> 74.00$ is a combined weekly and daily double arc upmagnet! 74.00$ is next first uptarget for Crude Oil!
==> 2018 main uptarget remains at 80.55$/October 2018!
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