WTI- Sale of the Decade?
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One of the potential targets for this final ABC up from 65.05 was hit today. If the retrace can get back below the .618, a trend line cuts there as well, the risk of a serious reversal becomes very high. Keep in mind the big picture: 5 waves down from 147 to 32.40, a choppy reversal back up that has been structured in abc's, thus far retracing 44%. Could be there's more to go, a 50% retrace is at 89.70. That's $6.50 away from today's highs. But when it's trading at $50, or $40 or $16 ...$83 's gonna look mighty sweet. All initial 5 wave structures get followed by at least one more leg , in this case down. And 147 to 32.40 was a BIG 5 down.