Here is our downtrend.... Very nice 5 wave move.
What is funny is that I look at the candles... I see that big green one, and look fondly on the day oil was $122 and reversed to $137 giving us the big green one and the big red one..... Oh! Sigh!! those were the days.
When you realize that what we could have is an ABC correction in a Bullish market.... hey!!! That's not right!!!! but it is what those candles show...
What is funny is that I look at the candles... I see that big green one, and look fondly on the day oil was $122 and reversed to $137 giving us the big green one and the big red one..... Oh! Sigh!! those were the days.When you realize that what we could have is an ABC correction in a Bullish market.... hey!!! That's not right!!!! but it is what those candles show...
Here is a hypothetical though..... that we get a little retracement, then one more new low..... and we are then in a larger downtrend, and have a nice Bearish set of impulse waves..... We will see... But even if we do get one more low... We will have a follow up(upmove) Correction... I'd say if oil goes to 150 this week we will see this... Then Oil will correct... maybe back to the 120's or 130's... then it will resume it's march higher, and the market lower...
No comments:
Post a Comment