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kryton9
Jul 17, 2015 10:57 PM

USOIL(Crude Oil WTI) near term target price 

Crude Oil (WTI)FXCM

Description

Near term low price target (46.83 to 46.86), before possible leg up to a target price of around 56.55.
This is just using the emotional pattern indicators of XABCD Pattern (Bat Pattern) and Fibonacci Retracement
to figure out the low target prices around D. The possible leg up is based around the B point. The time frame
is days between X and D divided by 3 (88 bars / 3 = approx. 29 days ).
Comments
petermp25
One of the caveats of the Bat Pattern, it's tricky to determine whether the D point will be a 1.618 of AB, a 88.6 of XA or a 2.618 of AD. Most of the time it plays out as an 88.6 but seems like this one was a good 2.618.
Both bats are 88.6
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