Thursday, August 6, 2009

WTI

Looks like an expanding triangle. The c = 1.382 of a, and d = about 1.5 of b. If e = 1.62 0f c we get 68.85. If that is the case a final leg up will target 73.35, as .618 of the last leg up (64.97 to 72.25). Of course, it's really all about equities and the USD. IF the USD gets a turn here ( not impossible with todays news) AND the SP finally reverses (Pls see todays SP post), WTI will probably also reverse , leaving a very difficult count to identify.

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