finitemonk

WTI CRUDE - MAY WELL HAVE PEAKED

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
84 0 0
All self explanatory I hope. Having hit the strong resistance at the 0.618 of the upward fork,
failing the 1.618 retracement or return to 1 (whichever way you look at it), probably forming a nice hammer candle, downward doji
into the close. I support this on observations that whichever line of the main active fork provides support or resistance its opposite number will provide the opposite in return, in this case the 0.618, support around 2012-11-07, again 2013-04-16, so now its opposite number (in red) will 'return the favour'.
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