I have been watching Crude too and noticed the five waves down (on the hourly chart) ending on Jan 5, followed by and ABC correction and another five down ending mid day on Friday. It appears another ABC is working itself through; currently in the C portion. I suspect the C wave will end someplace above the Crude price of $90 (but not above $91), then roll over to the down side again. I am looking to short it later today. You have a target of $86.60. Can you share with us your reason for that target?
Thank you. I sure do appreciate you sharing your thoughts! DennisP
I have been watching Crude too and noticed the five waves down (on the hourly chart) ending on Jan 5, followed by and ABC correction and another five down ending mid day on Friday. It appears another ABC is working itself through; currently in the C portion. I suspect the C wave will end someplace above the Crude price of $90 (but not above $91), then roll over to the down side again. I am looking to short it later today. You have a target of $86.60. Can you share with us your reason for that target?
ReplyDeleteThank you. I sure do appreciate you sharing your thoughts!
DennisP