Looking that the possibilities here wave structure wise we are forming a number of overlapping waves which leads to confusion. Watch that 1006 level tomorrow or overnight tonight as I have 1005.25 as the 361.80 projection from thursday's swing low.
Let me see what happens tomorrow and gauge the volume on this move made today since it was a gap and go.
Do you get a turn around tuesday or a real rejection @ 1006. One thing to note today on the futures, the big guys weren't participating, is this our early red flag.
Monday, August 3, 2009
Crude
Oh man I really suck I only called Crude within 9 cents of today's top a day before :)
Well lets take another technical look at it. The 72.20 I looked back on my charts was the 261.8 fib extension the move down by where we took profit on that short play. The next meaningful number I have is 73.16.
Well lets take another technical look at it. The 72.20 I looked back on my charts was the 261.8 fib extension the move down by where we took profit on that short play. The next meaningful number I have is 73.16.
Crude Oil Rocking
Well analysis mid day friday is rocking again as Oil again is up $1.60, this morning. For the wave structure as I said on friday this market is very buyable and I expect to see 72.29 then 74.55. We will see soon eough.
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