clivew3- nice chart! I also have a similar chart to this as
well
This chart supprts the view that
Crude oil will soon put in an intermediate top, wave 5 of major
wave 3. However then it will eventually go back into a mega
rally wave 5 of 5 to new all time highs, maybe even to 150 - 200,
of course, judging by the chart, that would take many months to
occur i.e. would expect wave 4 pullback to last the rest of this
year possibly.
We'll see, I hope that chart is not
correct and that is really a major wave 5 top instead of a 3, but
we'll see, thx for sharing.
Oil
Posted by clivew3 on 8th of May 2008 at 04:17 pm
Attached is chart of oil since beginning of bull market and for those who follow Elliott waves and Fibs, I thought it may be interesting
clivew3 - nice chart! I also
Posted by matt on 8th of May 2008 at 04:25 pm
clivew3 - nice chart! I also have a similar chart to this as well
This chart supprts the view that Crude oil will soon put in an intermediate top, wave 5 of major wave 3. However then it will eventually go back into a mega rally wave 5 of 5 to new all time highs, maybe even to 150 - 200, of course, judging by the chart, that would take many months to occur i.e. would expect wave 4 pullback to last the rest of this year possibly.
We'll see, I hope that chart is not correct and that is really a major wave 5 top instead of a 3, but we'll see, thx for sharing.
always interested in the charts
Posted by Michael on 8th of May 2008 at 04:22 pm
always interested in the charts you post, but they're not clear