Tuesday, October 27, 2009

Crude




Structure continues to look and act like a 4th wave. This would suggest that we see higher price eventually.
There is a chance that this is a bigger triangle pattern. If you assume that the 77.64 L is a, the 81.99 H is b, we would have finished a complex c at the 77.81 L. I rate this as low probability though.

The US dollar appears to have put up a 5th wave structure to the upside. Be mindful of that.

No comments: