Elliott Wave Analysis of Light Crude Oil
12 May 2010
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Here is a chart of Light Crude oil that I prepared yesterday for a Reuters presentation. As you can see from the elliott wave analysis and labels marked on the chart, I expect a slight recovery from the mid 75s , but eventually we should be prepared for a move lower to $65 or even to just under $60 in the coming days/weeks. | |
This is the kind of oil setup I break down in detail in the corrections chapters of Five Waves to Financial Freedom, which use commodity examples just like this one.