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The implication is that the c wave is yet to come, presumably taking WTI somewhat higher, though perhaps from lower number's ie 69.16/ 68.62. See
WTI UpdateHowever if the SP wave count in the preceding post is correct, it would be be very unusual to see WTI stage a rally while equities are in free fall.
SO another interpretation follows;
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Personally I'm going with the SP count.
BTW it IS a Friday and the Euro is grinding down through long term support at 1.2138, see
Euro Heads Up from May 19th or any of the Euro posts.
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