Crude Emotional Rollercoaster a Perfect Display of Herding
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-I wrote on Monday that “after 8 days of consolidation, Crude begins March on a tear. The action is consistent with a terminal thrust from a triangle. In other words, look for a top and reversal. There are similarities between today and 8/28 (Syria then…Ukraine now). News events of this ilk often occur near tops.” Tuesday’s reversal is promising. A drop into 101 and rebound would create a short setup.
LEVELS: 100.15 101 103.41 | 105.51 106.38 108.46
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