InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
AI Subscribe Login/Register account icon
S&P 500
5,463.54
(
0.08%
)
US TECH 100
18,568.04
(
0.27%
)
Dow Jones
40,539.93
(
-0.12%
)
Brent Oil
79.15
(
-1.77%
)
Bitcoin
67,381.21
(
-0.61%
)
Post# of 51818
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (3) Keep Next 10 Report Keyboard Shortcuts
Replies (3) Next 10 Prev Next

techcharter

Send PM Follow Ignore
Followers 24
Posts 2281
Boards Moderated 0
Alias Born 06/03/2004

techcharter

Re: frenchee post# 37011

Thursday, 02/05/2009 11:39:59 PM

Thursday, February 05, 2009 11:39:59 PM

Post# of 51818
OIL E-Waves

Long term ABC correction from the $147 top

Wave A $147 down to $35 was very motive. It made a long decline with a very narrow trend channel. Wave 3 extended 2x. Textbook wave to look at. The wave count is so easy a fifth grader could do it.

Wave B dead cat bounce. From January '09 high to present looks like a triangle is forming, then a move to the $60-$70 range. What I don't know is if the move to $60-$70 range will be the end of Wave B, or a more complex time consuming wave. I favor more time consuming.

Wave C should take the price below $20.


http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&yr=1&mn=0&dy=0&id=p32442361352
Public Reply Private Reply New Post
Keep Last Read
Replies (3) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (3) Next 10 Prev Next
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up