Monday, August 15, 2016

Crude Rally Stall?

The Crude had a pretty good pop last week, up 10%. Is there more to come?

 1 mo. Sept
click to enlarge
WTI is definitely tagging some Fib retrace levels as well as having a corrective (upside) abc look.
 c = a at 45.30
6 mo. Sept

click to enlarge

 6 mo. Nearby

 6 mo. Nearby
Over all the upside move COULD be an abc structured B of larger degree within an ABC down.
 If so it should reverse here and the highs will be in.
I have been thinking something along this way for a while, so I have a bias, and the structure itself is not an easy trade.
Last half Aug good beach weather.

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