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alladale
Mar 26, 2018 2:11 PM

CL ETP-1 Pattern showing potential bearish move Short

Crude Oil Futures (Jun 2018)NYMEX

Description

Not a big supporter of this move but resistance is good. Almost into the 1.41 fib time extension so the trade might not even fire off before probability runs out. Attaching a gold chart to this one too in order to see where the commodities are all going.

Comment

Notice how when price went into the "no-go" zone of the 1.14 fib time extension on this xabcd pattern we just started to drift sideways and lost our ability to forecast a reversal?
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