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Thursday, May 12, 2011

Crude Oil - Fractal Formations

Please see my post from yesterday first:



The rising diagonal turned out just as expected and we are now headed for support at just below 95 and again near 92.00, If this support breaks too then the next target will be at 70.04.


Short term we now can see fractal formations, the current formation being the child formation to the mother formations, which was triggered yesterday. The childe formation will give way for the next decline towards the 95 area.


We also have a nice Picth Fork (red dotted lines) in the making, and the theory says, that there is an 80% chance that the mid-line will be reached.










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