Saturday, November 18, 2006

Crude Light Analysis 11.18.2006

Congestion/consolidation. Possible wave 4 here. Watch for break of current resitance at/near the 34ema for more upside potential. Otherwise, looks like lower.

Either we are consoliding for more up, or we will continue lower. IF we go lower, initial target is the 1.27 fib level.

Short term support at a prior resistance point, and at the 34ema.

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