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.
Saturday, November 18, 2006
Crude Light Analysis 11.18.2006
Posted by TraderZ at 11/18/2006 03:44:00 PM
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