Monday, September 22, 2008

Crude Could do Over 110 Sep 22-26 - Rakesh Chandra

Crude oil is upside was expected. It has achieved its first target. Now a decline to 107 cannot be ignored. Shorting at a higher level is a better idea.

Upwave (2-3) WUT2: 110;
Upwave (0-1) WUT1: 107;

Price is bullish above weekly pivot point of 103.78 and price is bearish below weekly pivot point of 101.92.

Downwave (0-1) WLT1: 99;
Downwave (2-3) WLT2: 94.

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