Last analysis dated 5th March, 2013, expected to see oil move higher for the week which is exactly what it has done.

Now that there is some structure to analyse for this upwards movement I can calculate targets for it to end.

I still have just the one daily and one hourly wave count for oil.

Click on the charts below to enlarge.

Last analysis expected price to move lower with an increase in momentum. This is not what has happened. Price moved higher past the first invalidation point on the hourly chart, but has remained below the second invalidation point and within the parallel channel on the daily chart.

The wave count is mostly the same. I am still expecting that an increase in downwards momentum with new lows is likely over the next few days for Apple.

Click on the charts below to enlarge.

GlobalWise announced after the closing bell yesterday that the company has entered into a securities purchase agreement, involving the sale of its common stock and the exchange of previously issued convertible promissory notes, for a total of $3.0 million.

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