We should see some continued movement to the upside to hit around 2365-72 area, around 1.618 retracement of most recent completed move. Then just as quickly as the bulls seem to take charge, I expect a rip down below today's low and ending with a wide range of bottom's before consolidating and bouncing to make new ATH's. I am going to try and play several of these...
I am posting this mostly so I can remember but we rally here to just over the 2000 level. I plan to buy Monday at 1842 area and hold for $1995. Then I will flip short around $2007.75 and hold for a long time targeting a minimum of $1600
Notes on chart. Playing the potential measured move in crude. Target for measured move $71.09 (Green line near top). I have an additional target based on my expectation that we break out of the channel of around $73.60 (red line at top). This move is negated at any point that we break below the Orange upward Channel. We are playing the trade both ways. Buying at...
