Technician
Short

Oil Completes a Bearish Gartley

FX:USOIL   CFDs on Crude Oil (WTI)
469 2 8
The price hits the 78.6 retracement level for the major bearish wave from 105.19 to 97.34 forming a Gartley pattern . Some hesitation is also seen at the potential reversal zone of the pattern. Supply data showed surplus in crude oil             inventories. I am already in this trade.

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Yesterday I was cleaning cash of TV of old harmonic patterns graphics spanning up to the year backward or so.

Almost none of them worked in the classical sense for WTI -- I mean reversals at the appropriate Fib numbers.

Even more -- I didn't see any predictability, maybe except plain AB=CD.

I think that WTI is not a harmonic object, and one needs to find the other ways of analyzing it.
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very nice coment ..thanks
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