Friday, August 27, 2010

WTI Elliott Count

click to enlarge
pretty straight forward, BUT

The larger degree count  puts WTI in a 3 down from the April highs and if this is a sub wave 1 of 3 than it would be nice to see it put in new lows below the termination of the 1 of greater degree, for Oct. 70.33, for the spot, 64.24. So it may be it sees an extension of the current wave and that would explain the relatively anemic correction the last few days.
Post close ; correction done

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