Yesterday the latest rally had lasted for 54 days. The prior two rallies last for 52 days and 54 days. That means a possible top could be in place, but we need confirmation. A break below 85.11 will be first warning that a top might be in place, but only a break below the uptrend since early 2009 at 81.59 confirms the top for a decline towards the 62.80-64.24 area.Tuesday, February 8, 2011
Crude Oil - Topping or topped ?
Yesterday the latest rally had lasted for 54 days. The prior two rallies last for 52 days and 54 days. That means a possible top could be in place, but we need confirmation. A break below 85.11 will be first warning that a top might be in place, but only a break below the uptrend since early 2009 at 81.59 confirms the top for a decline towards the 62.80-64.24 area.
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