Lately I have seen a lot of scribling about Goldman Sachs having said that Crude should rise to a new top. Is it possible? Yes as long as impotant support at 95,00 hasn't been broken to the downside we can't exclude one more rally higher towards the 120-area.Is it what I expect? No! The Stochastics i pointing down hard The decline from 114.83 on May 8 was clearly the biggest decline since the bottom in late December 2008.
The short term Elliott wave count (see below) doesn't support the rally higher to the contrary it points towards a new firm test of support at the 95-area and if this area is broken forget a new rise towards the 120-area and look for 83.73.
No comments:
Post a Comment