Wednesday, June 11, 2014

Light Crude Oil \CL Major wedge

Weekly chart 2011-2014 Jun Light Crude Oil.
Major wedge / triangle from 2012.
All five sub-waves completed.
Anticipate up action from tail of subwave e onwards.

If up move breaks top of wave d, then we can expect a new impulse wave measuring the length of prior up wave that may bring price of crude to $140 again.

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