Wednesday, January 14, 2015

Crude near a short term Low

In the Jan 5 Time and Cycles public blog post, I mentioned that: "Major support is at the long term 12/98L-11/01L-12/08L Up trendline at the 46-47 area"

That trend line needed a little refinement. Crude exact key long term trend line support at 45.89 and was exactly touched at 1/14 futures Low at 45.89 and closed back above it at 48.48. We are at a short term Low in crude Oil. 


wiseman said...

do you think we will have as many up days as we did down?

Raj Time and Cycles said...

Hi wiseman, I think Crude is longer term bearish, for nor we bounce.

wiseman said...

how about the stockmarket?