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techcharter

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techcharter

Re: None

Tuesday, 12/01/2009 10:19:39 PM

Tuesday, December 01, 2009 10:19:39 PM

Post# of 51808
Slick OIL E-waves

Prechter was right about corrections being difficult to count. Oil has been a challenge, though the count has become more certain.

Wave A: From December '08 Low to June '09 High - complex WYZ.
Wave B: From June '09 High to July '09 Low - zigzag
Wave C: From July '09 Low to present - Complex WYZ.

Within Wave C, the pattern was hinting the price would drop below $75 around this time. This means W overlaps Z. I see $85 as an upper limit, and 2-3 weeks of choppy rally before the top is in.

http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&yr=1&mn=2&dy=0&id=p37696077144
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