Saturday 13 December 2014


Where to next for WTI Crude?

We are into the 70.7//78.6 zone (59.44/52.15) which is a favorite bounce zone for crude.Whilst Im absolutely crap at EW, it appears that we are in W3 of 5, expect W3 to complete at 2.618 of W1 which sits at 52.73, just shy of the 78.6 at 52.15.
Immediate resistance sits at 61.275 the 50% of this weeks Marabuzo candle then above at 70.39. Ideally should W3 complete at 52.73 with the W4 retrace targeting the 38.2 of W3 at 73.72 before the final leg to 45.43 which would complete both the EW pattern and the measured move target from the breakdown of the symmetrical triangle.



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