A Discussion of Technical Analysis, Elliott Wave Theory, and Fibonacci Ratio's focusing on Energy Mkt.s Crude, Products, and Natural Gas. Occasional Fundamental Analysis, Energy News and Rumor.
Thursday, October 1, 2009
WTI Thrust
After this mornings thrust above the resistence line from yest. ( the former support line of course) WTI has little room for pullbacks. A reversal on the day, under 69.61 would be pretty bearish looking. Even under 70.00 would put todays move up in doubt.
I have been applying Elliott Wave Theory to energy markets as a broker and as a trader for commercial entities since 1983.
This blog is merely my personal musings on various wave structure's and NOT any kind of trading recommendation or suggestion.
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