WTI - Bubble in the making?
Today there was a brief discussion on Reuters re potential for a "bubble" forming in Crude ,
" | One of the key indicators of a financial bubble is that price rises (or in the case of a crash/inverse bubble price declines) accelerate towards the peak (trough)......
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Weekly
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Note the acceleration phase during the -3- of 3 subwave, in Oct of '08. Also classic. The subsequent rally has all the characteristics of a corrective retrace; one of which is to spend time in the price area that the acceleration occurred in. You might say it's done that; 1.5 years! Please see Crude gains 5% in 2010 ! (Almost)
It's also interesting to note the levels we are achieving today correspond roughly with the beginning of that wave down in Oct of '08 and have retraced 52% of the move down.
Guess it's all how you look at it.
Guess it's all how you look at it.
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