Thursday, July 16, 2009

Crude

Crude continues its correction. It appears that it completed an abc at days end to finish off, what I have labeled, (a) of a bigger complex corrective. If correct, then this would be a WXY double three.

I don't get caught up in the count folks with this market. If you scalp (like me), there is huge range that affords plenty of profit potential.

I will say it again, I'm suspicious that 5 of C could be complete. I am maintaining this count until proven otherwise.

P.S. Hope you noticed the 78.6% retrace and 127.2% projection on today's abc - reciprocals again!

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