goodguy

Crude Oil: Still potentially bullish F/U from 4 days ago.

FX:USOIL   Crude Oil (WTI)
66 0 2
Since the recent posting the price did go up. If this to be a triangle the current short term rise should not exceed .b (62.55) but rather go down to < a (58.61) but not lower than .a (55.74). If it does all that we should have a nice 5 wave contracting triangle which would likely go up to about the yellow box. There is a bearish divergence in the RSI which would support we likely will have some down action soon. Maybe to .e. Will see. In the mean time I am staying neutral. I am not really a super short term trader as I suspect many here may be. Take care. Good luck.