CRC short term bearish on the retracement, long term bullish.

2018年9月1日

CRC reversal confirmed on august 24, 2018. Continuation of primary long trend. Optimal entry point would of been around 32.50. Currently over extended expecting a 1/3-2/3 retracement. Based on previous trends I expect this to retrace to 50% around 36.00. At which point long term primary trend will continue with an average target of 45.00 which is approximately 25% roi -1.17% . The main idea right now is to see how over extended the current rally is and a retracement is imminent. We can also see volume divergence with the current rally which is considered bearish . Depending if volume contracts or expands on the retracement we could easily bounce at 1/3 = 38.00$, or 2/3 = 34.00. Short term bearish , long term bullish on CRC 3.03% . the blue channel is where i expect the retracement to occure where the yellow trendlines represent the 1/3, 1/2, 2/3 possible retracement areas.