Broad look at CL moves and expected moves for 2024
The first impulse higher from the crazy lows back in 2021 to the 129.55 high in 2022 has been correcting, the first impulse lower reached 65.38 and we we now consolidating in a narrow 65/80 range.
the current move could extend into $90/95 zone being the 38.2/50.0% retracement before completing its correction in the $45/48 area which marks the target for the correction and the 50% retracement of the -$40/$129 move.
the current move could extend into $90/95 zone being the 38.2/50.0% retracement before completing its correction in the $45/48 area which marks the target for the correction and the 50% retracement of the -$40/$129 move.
Mark Langley