WTIC, West Texas update

wtic b june 2012wtic s june 2012

Today we had a nice risk-on move in oil, worth about $7.25 for just a single day. This is after almost $35 straight down, so when all is said and done it is a retracement, so far, of about 20%. Our first target was and is about $67.50 so we would not get to excited about this Eurozone, we will help the banks, knee-jerk, energy, risk on trade. In terms we probable had a triangle wave 4 of 3  and today retraced the “thrust”. A little more up is possible or alternatively we may be getting another triangle, this time wave 4 of the whole 5 –wave move down. Ultimately we should get at least to $67.50