Wednesday, May 12, 2010

WTI Update

        click to enlarge
The WTI may have 2 up complete today as shown. If so the implication is that the next leg down can easily equal the 1st leg or more likely be a fibonacci multiple.
3=1 at 64.46 , and 3= 1.618 of 1 at 56.72.
Lets see if the move down exhibits 3rd wave characteristics.

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