Thursday, November 12, 2009

WTI Not Exactly Trending


How long can WTI chop around for? Usually this type of pattern is resolved by a resumption of the trend, in this case to new highs, but if it is in a B wave or X wave down that is correcting the move up from 32.50 to 82.00, choppy abc's with overlaps might be expected. So quite a while is the answer.
In the meantime  "c" = "a " at  75.06.

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