Follow up on Crude Oil - 16 Week Cycle

The 16 week cycle in crude hit on the week of Oct. 12, 2009 as predicted. It can now be seen breaking through the 38.2% retracement level. This should be watched closely as it should either fail here or move quickly to the 50% retracement around $90.00.



This is not a conspiracy blog, however, it should be noted the Saudi's and other mid east states seem to be picking up the slack in buying US treasuries. China's purchases have been declining. Could an increasing price in crude be their reward?

The next 16 week cycle will hit around Jan 29, 2010.