Monday, September 21, 2009

WTI Update

The WTI is most likely in a C wave down from the 73.23 B structure high. While it really needs to overlap the 68.02 level to confirm the count it 's already  exceeded the .764 retrace of that "c" leg. See WTI Due for Down Leg .   
If it were to equal the A down from 74.99 to 67.00 it will target 65.23. Any bounces at this point should be contained by the .618 retrace of todays leg down at 71.20, and preferably the 50% retrace @ 70.77. Tomorrow the Oct. contract expires.

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