Wednesday, September 2, 2009

WTI Overlap

Ladies and Gentelman we have an OVERLAP (time to reverse).
But no spot month overlap yet ..that's at 65.23.
A little bounce back from here to the .618 of the last leg down would be normal and that's at 71.09.
Pls note the minor hourly RSI  divergence.

However given the potential for a 3 wave down following an 8 month corrective rally any bounce should be aggressively taken advantage of. This potential count is not confined to Crude, compounding the downside risk.

Pls  see previous posts
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2 comments:

  1. Skokie EnergySeptember 2, 2009 at 12:13 PM

    wti option open interest: dec9 60p 66,254 and dec 50p 66.001

    ReplyDelete
  2. Skokie EnergySeptember 2, 2009 at 2:46 PM

    wti oct 6800 strad finished 480/500 ,,, same strad opened 510 bid

    ReplyDelete

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