Tuesday, May 25, 2010

WTI

WTI might be in the final stages of the 1st leg down from the highs BUT this mornings move up off the lows doesn't look like a reversal and has all the characteristics of a correction.
June minute chart
 click to enlarge
Choppy sideways action , overlaps etc., in fact it has yet to exceed the .382 retrace on the last complete minuet wave count  down.
 June 30 min.

Again  there is a potential for a -3- of 3 expansion so patience with calling it over and a view to the 65/66 support area is in order.


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