March 18th, 2015: Oil Monthly Chart Update
Posted by pugsma on March 18, 2015
11:30 pm EST: Based on the monthly chart, Oil has a Cycle 2 target in the $41 to $35 range. Oil looks to be in a minor 3 of major [5]-PC-C2 wave down with a minor 3 = 1.62*minor 1 target at $41-42. Look for a minor 4 bounce to $43-44 and then minor 5=1 at $37-38 to complete the Cycle 2 low.
Oil (WTI) Monthly Chart:
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