GUSH: I don't think Oil has bottomed but it is due for a wave 4
bounce. The depth of the wave 3 drop was such that a fib 38.2 bounce should take it from $7 to $39. The 50 bps cut in the interest rate should help all commodities as a lower interest rate negatively impact the USD against which all commodities, including oil are priced in.
註釋
Wave 3 went down even further and stopped a tad short of the 2.382 line.註釋
Reverse split 1 for 40. Not good.註釋
The free fall for Oil continued until today when Trump announced that the US will be buying oil to replenish her Strategic Reserves. From an initial 1,618 wave 1 extension, wave 3 has gone to 3.5.註釋
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