Gold, Oil & Indices (Equity & Bond Indices)

Yes the 70.7% ret level coincides with the fractal low you are eyeballing from July. The ABC symmetry completion of C starts at the 100.42 high to completion of A at 87.70 low, then completion of B at 93.66 high on the 10th october. I am not expecting completion of C down in one fell swoop and yes it could truncate at the 84 level but 100% level at 80.90 is higher probability if this pattern is only a corrective from the 100.42 high. I rest my case.

I take that back re the 70.7% level. I have been changing my data vendor in the last few days during which I been looking at the December contract for oil. I now have a continuous futures chart up which is more accurate for historical data. The 70.7% level sits at 84.06, not 85.53 and the 61.8% level was at 86.12, not 87.48. The ressistance at c.88 still valid.

CL next downside level to watch at 83.80 below which we have potential symmetry at 81.11. It is looking rather oversold on daily stochastic but O/S a relative term (current 85.80).

CL kissed the 70.7% ret of the June low to Sept high. Good level for brief beer stop or might continue to 83.80 next. ES emini broke the 1408.17 symmetry level with minor bounce, 1394 next downside level to watch and then 1384/87

was joking...

:(