Tuesday, October 6, 2009

WTI ...I Hate It When That Happens


Once again WTI leads the world equities markets higher in a last minute save from implosion. Darn.

In the context of the last 2 months of choppy and difficult chart patterns another abc is not unusal, getting the labeling right the first time is. So sketching ONE potential resolution on the chart is taking a little risk but hey..

The short term 5 min chart action does not look like an impulse wave up.

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