Friday, November 27, 2009

Post Turkey WTI Update

Probably safe to say that the in short term lower lows are likely. The break below the support trend line marks a 3rd wave of some degree, and this abc up to 74.90 is a little 4th, so expect at least one more 5h to new lows. If it is equal to .618 of 1 thru 3 target 71.38, and the .618 retrace of 65.05 to 82 is at 71.53. However, there is likely another 5th of slightly larger degree that could be made, so after a bounce 5=1 at just under 70.00.

No comments:

Post a Comment