Crude Weekly 2-2-2 Pattern (Update)

crude weekly

Last week I posted about a 2-2-2 pattern on Crude ( April) but warned that in my opinion a move under $90.06 would in-validate the pattern. That has happened as of this morning.

I now am watching a weekly chart of Crude (basis April contract). we are heading towards a point D on the 2-2-2 pattern. My ciphering shows me that projected levels for D are $93.70, $88.88, $85.43. Onviously the $93.70 is out of play as we are under it. So, I am watching $88.88 level as a possible D point.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s