Some people think that Elliott Wave Analysis is largely the ability to compute Fibonacci Ratios. When I saw the attached chart today, I wondered whether this could be a nice example to share with you. Of course, I could be completely wrong, and EOG Resources could plunge to zero tomorrow. On the other hand, I do believe that there is a reasonably good chance for 126.50 to hold and for us to at least recover to 133, if not higher (maybe even to 137). Use this update to learn. Remember that the WaveTimes Blog does not offer trading advice! Enjoy.
2 Comments
Any thoughts on what the price target is since it has now fallen below 127?
Rajiv,
While it stays above the recent lows around 121, it should reach the minimum target discussed.