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Thursday, February 13, 2014

Crude Oil - Wave 1 is over and the wave 2 correction lower towards 96.32 is developing.

Crude Oil

With a high at 101.38 wave 1 ended jus 20 small pips above my target at 101.18. I will now be looking for a correction towards the 50% corrective target at 96.32 as wave 2 before wave 3 takes over for a rally towards at least 106.91.

Short term a break below 99.12 confirms the correction towards 96.32.

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