Tuesday, July 28, 2009

WTI Failure?

Yesterdays very choppy move lower is difficult to label as an impulse wave, so lets call it X. The subsequent move up fails to make a new high and COULD be counted as the final series of a,b,c's in a series of 3. Taking out the month long trendline crossing under today at around 66.50 ought to give the downside some momentum.

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