Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Wednesday, 2 July 2014

#Crudeoil

The choppy nature of the price action can be explained by the contracting diagonal formation on this larger scale chart. Regardless of whether it is leading or corrective, I am looking to buy the bottom perimeter for at least the 61.8% correction higher. The 'clouds' remain bullish and a turn positive in the MACD & SMi would bolster the upside. Will the next move up be the one?


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