We have a nice potential double bottom that could play very well into the usual Sunday night - Monday strength. This 100% retracement of Wave 1 of the move off our bullish ABCD doesn't fit well to the scenario of a really strong trend up starting here, but the move to the usual area off this ABCD should be good enough to deny all the Wave 3 callers right away:

GLobex kept the pressure on the shorts all night...another strong up day?

What a dull, choppy, non-trending day. I'm watching 88-89.50 next, and 92.50 above that. At least crude is moving a little.

Originally posted by jimkane

... At least crude is moving a little.

And it does it according to the script:

Not superbullish action here



Mats

Yes, it does, jarek.

Originally posted by Mats

Not superbullish action here

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Mats

No, it's not. I call that 'crap action', and many times indicates a top or trend reversal. We'll see. The thing I find noteworthy is that coming off that big low in bullish sentiment, everyone is now very bullish and calling for a good-sized rise. That makes me think it might be done somewhere in here.

Yes try hard to learn priceaction. Trendline creep and behavior in areas of interest!

Thanks Jim , Jarek

Time for them to take a run at it.

Originally posted by jimkane

Time for them to take a run at it.

And behold, he said let there be light, and there was light...

One of the DB ABCD variants coming into play somewhere here:

Great work, eric, right to your area.