8-9-18 Looking For Confirmation
WTIC - Almost 1 month ago I pointed out that I was expecting a Bounce from here, but that it would stall and drop as drawn (possibly to the 200sma).
WTIC - Oil bounced & dropped as expected. I now expect this drop to take out the lows of the DCL ( The blue arrow) and form a failed daily cycle, eventually seeking out an ICL. I wouldn't be surprised now if Oil breaks below the 200sma in a shake out too.