goodguy

Time to watch crude oil again.

FX:USOIL   Crude Oil (WTI)
29 0 1
13 days ago I suggested crude oil             was likely ready for a short term correction with an a-b-c (up then down) correction. We have just touched the .618 correction. Often after such a long term drop as we have seen in oil             corrections are quite deep so I would not be surprised there is more correction still to come say to .78? or even to back to the low (37.73) to form a "double bottom". I don't know. Will be watching or some divergences in the RSI or break out from the channel. Hope this is helpful. Take care. Goodguy.
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