meszaros

WTICOUSD correction begins.

Short
OANDA:WTICOUSD   West Texas Oil
WTICOUSD correction begins. My analysis shows that the rise has stalled. The halt is caused by the upper level of D1ATR. The D1ATR(white square height) shows the 14-day average of the maximum value of the intraday move. In other words, the maximum distance that the price movement can travel in a day with the currently measured ATR value. Simple math. Let's move on. Above and below the white square of D1ATR is a red square. This is the so-called "spike area". In these areas, price movement can occur, but no price can close beyond one day. This ensures the symmetry of the wave movement within the D1ATR. Also visible is a green square within the D1ATR. This is also significant. This is actually the wave of the symmetrical wave structure that has formed. I am waiting for the second period of this. To briefly summarize. A correction in oil (WTI) may begin. The first target price : 71.887 usd

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There are no pull backs scheduled as long as FED is continuing it's debt ballooning rampage, apparently :D
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meszaros mikeUkTrading
@mikeUkTrading, I agree with this. I am not expecting a major downturn either, just a technical correction. Apparently it started a day late.
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@meszaros XLE looks flat / out of steam. This may have a impact for the WTI pricing.
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