Oil in the next month or so

[hwsteele]

Take a look at the chart and tell me what you think.
On the chart I have placed two black arrows that show where a time count starts and comes out/ends.
The day it comes out/ends is July 29th.
Couple that with the fact that the price of oil is at a level of resistance and a possible zig-zag pattern thrown in and we have what could be oil moving down to around the $70.00 price level.

The two red line channels are support and resistance as I see it for this market at least for the next few weeks.

A second possibility is:
When the time count come out/ends the market might break to new higher levels and we might see $88.00.



Tag:
Maybe we will luck out and we are in the middle of a much larger Zig-Zag and the price of oil will head back down to around the $60-$65 price area.
And then there is always the possibility that the price might not do anything!:cheesy:

 

[hwsteele]

Boy, oh boy I sure do love my sweetie!!

Yes I am bragging about my sweetie.
She not only "puts up" with my trading but thinks it's NORMAL!!! (for me)
And she is a HOT little Panamanian babe.
Not some trading nerd like me but a normal person!:cheesy:

So this song is for her!

 

[hwsteele]

I am quite sure the one person this post is meant for will know who they are and understand the picture. It shows, in a different market, the importance of what you are doing.

 

[hwsteele]

Well as of now it looks like we will go up instead of down. $88.00?