Wednesday, March 3, 2010

RBOB

 
click to sharpen and enlarge
Note that the Rbob retrace off the lows is roughly at 50% (believe they use settles on this chart).
Additionally the move up from 1.6416 is now at 2.25 equal to 50% of the first sharp move up off the lows to 2.098.
This is still merely a correction to the initial 5 wave move down in 2008. 

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