As can be seen this from previous cycles this can either be a crest or a trough. This would appear to be forming a trough, in which case crude and the stock of related companies would be good purchases once the trough is confirmed.
This chart also shows the fibonacci retracement areas from the mid-2008 highs to the early January lows. (23.6, 38.2, 50.0, 61.8).
These will be important points in many charts and will be the subject of a post in the near future.
No comments:
Post a Comment