My preferred count is still, that we should see one more new high above 149.39 to end the final e-lag of the Ending Diagonal. Short term we need a break above 144.25 to confirm the next leg higher and a break above the next serious resistance at 145.60 will accelerate the move higher.
I do belive we saw the top at 1,778.30, but must also admit that we could be looking at a minor triangle, which should spark one more new high to near the 1,810 - 1,812 area, if we break out to the upside however a break below 1,720 will confirm the top for a decent decline towards the next support area near 1,640.
Crude Oil is still correcting and we might still see the 84 level before the next decline to the 72 area sets in. Longer term we should be looking at a new low below the 2008 low at 32.40.
My preferred count is still, that we should see one more new high above 149.39 to end the final e-lag of the Ending Diagonal. Short term we need a break above 144.25 to confirm the next leg higher and a break above the next serious resistance at 145.60 will accelerate the move higher.
I do belive we saw the top at 1,778.30, but must also admit that we could be looking at a minor triangle, which should spark one more new high to near the 1,810 - 1,812 area, if we break out to the upside however a break below 1,720 will confirm the top for a decent decline towards the next support area near 1,640.
Crude Oil is still correcting and we might still see the 84 level before the next decline to the 72 area sets in. Longer term we should be looking at a new low below the 2008 low at 32.40.
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