Monday and Tuesday a lot of bullish reversals were elected.
In my experience crude this volatile will zip through gaps in reversals. You can see the gap and how long it took to drop. I would guess the same amount of time to bounce back up to the 120 area. IF it commits past that weekly bottom trendline.
This is using Martin Armstrong Socrates system. If interested go to
ask-socrates.com armstrongeconomics.com
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Updates from Socrates have a new bullish reversal mentioned in the commentary. @116.03
This is in the gap between 120.06 and the weekly down trend line.
Not sure how this will play out as this is not too common. My thoughts are still the same for tomorrow just with some added caution.