CL Redux

Quote from EON Kid:

Look at the 6E spike up
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What sez you about the upside target for the day? Also have we already hit the bottom?

BTW is this news driven or what?
 
Quote from saliva:

What sez you about the upside target for the day? Also have we already hit the bottom?

BTW is this news driven or what?
More...

I like 76 for major swing long and if it takes it out in the globex then add.

If you look on the down leg from the start of Jan it looks like we have completed an EW 5 wave ???
 
I'm not an EW guy but the trendline that extends back to last Wednesday points squarely to 76. However, on the daily, the MAJOR trendline stops cold at 75. But as risky already pointed out, CL is known to overshoot the target, so I wouldn't be surprised should we drop as low as 74. Hence I would wait until it goes down to 75 or lower and then enter long once it breaks above 76.

Good plan, eh? I think so too. :)
 
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