A Discussion of Technical Analysis, Elliott Wave Theory, and Fibonacci Ratio's focusing on Energy Mkt.s Crude, Products, and Natural Gas. Occasional Fundamental Analysis, Energy News and Rumor.
Tuesday, July 28, 2009
EURO DECIDE
Once again 1.40 looks to be the key, as the .618 retrace of the last move up. Taking out that support will increase the probability of that last leg being complete. Since the Euro's move up from last autumns lows looks corrective, we may well be seeing the beginnings of an impulse wave down.
I have been applying Elliott Wave Theory to energy markets as a broker and as a trader for commercial entities since 1983.
This blog is merely my personal musings on various wave structure's and NOT any kind of trading recommendation or suggestion.
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