the case for $170 oil ….

one chart – the only thing wrong w/ this chart is the length of the data.  “wish” I had longer time frame oil prices.  however, based on that I put together this count.

rules:

• 2 can’t go below the origin of 1: check.
• 3 can’t be the shortest: check
• 4 can’t go below 1: check

thesis, this move in oil is a C wave and is certainly acting like it.

why  not step in and BUY at 64 OR wait for a nice pullback since, as shown below 67 might have done it.  (NOTE: PRICE = TIME today for the 67 level)

What if … what if this count is correct? K A B O O M ….

the case for BULLish OIL …perhaps?

RSI ALMOST AT EXTREME

A=C IN PRICE AND TIME – TODAY