10 Sept 2014

The intra-day chart shows prices are in an uptrend at the moment.  The momentum would need to stay on that sentiment to change our ST back to UP.  As it stands the trend on the ST is still down.

There is an EW bearish count but its not easy to follow because of its multiple sub division, so I decided not to label it for now.  If we are to break lower tomorrow and the rally stalls then the possibility of these 1-2, I-II, i-ii becomes increasingly plausible.

MT: UP
ST: DOWN
PA: NA

 

I posted a chart on one of the forums and thought I would share it here with no comment other than what's on the chart...  Price of gasoline on first chart is in CAD Dollar but it does not matter...