CRUDE OIL WARMING JETS FOR A RUN INTO TRIPLE DIGITS
Under no circumstances did I expect Crude Oil to pullback as far as it has over the past couple of months. In my analysis dated September 16th, the price pattern was giving no indication of the type of pullback we experienced. It wasn't until more than a week later that Crude made its intentions clear, signifying that a test of the all important generational trajectory pictured below was bound to take place. Here is my revised analysis from September 23rd, after Crude decided to show its hand.
Now that we have essentially been meandering around the generational trajectory for a number of weeks, I wanted to post an update as to what the intention may be:
click chart to enlarge
CRUDE OIL
