This move is good, doing what I had hoped. (The EURUSD is making roughly the same moves, I'm waiting for the pair to see if it hits the 1.22 area). Commodities seem to be bottoming overall, PMs maybe have already. Unlikely to have commodities going one way, and the EURUSD the other,
Whether you label these waves a-b-c or numbered (today's high encroached into i price before falling) ...
Thursday is a big day data wise (German/Euro GDP/US Retail), (that COULD give a plunge and bounce to the EURUSD and so to Crude. $76 looked like some big longs went in from the way it behaved.
As for $126, I'm keeping quarter of an eye on the JGB/Nikkei/Yen area, wondering if events there might suck back all that exported deflation. Who knows ... plenty of things in the wings.
Whether you label these waves a-b-c or numbered (today's high encroached into i price before falling) ...
Thursday is a big day data wise (German/Euro GDP/US Retail), (that COULD give a plunge and bounce to the EURUSD and so to Crude. $76 looked like some big longs went in from the way it behaved.
As for $126, I'm keeping quarter of an eye on the JGB/Nikkei/Yen area, wondering if events there might suck back all that exported deflation. Who knows ... plenty of things in the wings.