CRInvestor

CL1! - price exploded past ab=cd target

NYMEX:CL1!   Light Crude Oil Futures
271 0 2
In what can only be described as a 'blow-off-top' Crude oil             prices surged past our long standing bullish ab=cd price pattern objective (101.62) to finish the day well above 102. As the colored arrows indicate bullish harmonic patterns have been satisfied. Coincidentally, our very reliable Willy21 is flashing a 'stupid overbought' condition and our MACD indicator is suggesting a bearish momentum divergence. Put it all together and my upside enthusiasm is very limited. Yes we may move higher over the coming sessions but I for one shall be watching for some sort of consolidation first.
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