Prepared by Jamie Saettele Taking a longer term look at Crude, expectations are for a drop below 6424. 6116 would be potential support (100% extension), followed by 5832 (former 4th wave extreme). Near term, a correction is nearing completion. The move above 7560 is a terminal thrust from a triangle in a c wave. The [...] [...more]
Crude Oil (WTI) – $72.92 // $0.40 // 0.55% Commentary: Despite a bearish DOE inventory report and another round of dismal economic data, crude oil managed to rally, adding $0.89, or 1.24% on Wednesday. Incidentally, U.S. equity markets also finished modestly higher, after spending the vast majority of the day in the red. Clearly, the [...] [...more]
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