WTI

WTI Elliott Update is way overdue;

All of the corrective 2nd  waves up  have been extremely deep since making the $84 spot mo. high back in
early Jan. Nevertheless, whether you count the move up from 32.40 to $84 as a 5 wave, or a series of 3 ABC's
there is a high likely hood of a much more significant move down than we have seen thus far.
This rounding top pattern can result in a "stealth" series of lower lows and lower highs, with the "moment of recognition"  coming late.
 click to enlarge
On a more philosophical note, WTI is a good reflection of the worldwide stimulous efforts, and inflationary expectations surrounding that, vs. the continuing evidence of the developed world critically handicapped by debt.

Comments

Popular posts from this blog

WTI Update- a 4 Handle Future?

Biden Climate Plan and Global GDP

Crude Oil Update