RDS.a, Royal Dutch Shell

Again a B-wave, here are then and now charts;


rds.a march 2011

This was from April 26th (see previous blogs). Among other things it told you oil was going to go down, not up which was then the “consensus”. Here is what we have done since;

rds.a july 2011

The stock went two dollars higher at the time to just under $78, then promptly dropped to $70, a little over 10%. If the original analysis was correct, and I still suspect it is, the stock should fall a lot further. It is presently retracing the first leg down but does not have that far to go before wave 3 (or, at best C) starts. At the very least we should get to $59, but if my 9altered) count is correct  $47 is very plausible.