olajide11
Short

TRIANGLE RANGE

NYMEX:HO1!   NY HARBOR ULSD FUTURES
27 0 0
Heating Oil             ( futures ). is ranging in a symmetrical triangle of corrective waves pattern. from the diagram above wave (b) retrace 0.886 of wave (a) @ 1.6640. wave (c) retrace 0.618 of wave (b) @ 2.0518. within the triangular range is we expected to see wave (d) to retrace 0.886 of wave (c) @ 1.7139, and wave (e) to retrace 0.618 of (d) @ 1.9416. however at the end the wave (e) price is expected to continue its bearish trend to 1.618% @ 1.1555 of 1.5930 to 2.2439.

HO1!             is positively correlated with Crude Oil             , Gasoline, and other Oil             ETF's.

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