crude to $89 again

Discussion in 'Commodity Futures' started by Wallace, Nov 9, 2009.

  1. chart - simple H-L fibo Retracement with time estimate of last wk of Dec 09
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  2. romik


    Sure looks that way. Considering crude's correlation with stock markets & Dollar would you say that Dollar is to continue declining & stocks keep the upside?
  3. my timeline for the indicies and $ is February, IF the $ bottoms
  4. crude never made it to my favoured $89 and i don't expect it to try again
    based on the drop since May and current formation, i'm of the belief it's all
    downside from here

    chart is from AG showing it's EW labeling plus a couple of Ellipse and MOB
    quite like the labeling particularly the ABC at the end of the uptrend
  5. oil abiotic, the truth is the earth produces oil . deflation crash to 10 is possible
  6. HappyJoe


    Agree, downside to oil in the comming month...
    Figures just dont add up, we all know what is going to happen at OPEC in few weeks.....and thats NOTHING. Why should they? they already happy oil is too damn high as it is considering the economic data thats present. High unemployment, exchange rates on the flip side ect ect
    But then again, since when is oil logical?