Wednesday, June 2, 2010

WTI Update

Right in the middle of a b wave down. Anything can happen here. I'm leaning toward a short term move to retrace .618 or .76 of a, at 69.16 , followed by another move up, to complete 2 up.
Keep in mind that the spot low was 64.20 ... a long way down from here, and a  .618 retrace of the spot month "a' would take it down to 68.62.

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