- Posted November 18, 2011 by
This iReport is part of an assignment:
Possible Major Oil Decline
Crude oil this week did more than make higher highs. They pivoted at an upperr MLH and an ORE line intersection. Ore lines were touted by Alan Hall Andrews as the most reliable way of using Roger Ward Babson's Action Reaction Lines. With the Rule of Alternation in play......what just occured doesnt usually occur next.........it would be anticipated that the straight up move of prices in the last few weeks will be followed by a choppy dowm move to below the lows several months back. However at this time precisiontrader is forecasting a target of further than that if the decline continues into next summer. The high here has an interesting signal. It is what we call a 7+7. This is what occured at the lows in gold in the summer of 2010.............................All of this is.... of course..... as usual..... a wild guess.