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Strategies & Market Trends : John Pitera's Market Laboratory

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Davy Crockett

roguedolphin

The Ox

To: Davy Crockett who wrote (17960)	3/18/2016 10:02:33 AM
From: John Pitera	3 Recommendations Read Replies (2) of 33421

WTIC Chart at Resistance in this $41.60 -42.95 - $43.39 Wyckoff levels -- No Volume on Rally this past week. Crude will get a bump up to $42,50-$43 as the April contract expires and we roll to May..... This is probably the last month we get a bump higher in crude when the nearby contract expires for the next 4 months. (We have been getting bump ups every month for the past 6 to 8 months on contract expiration day leading into the next day ) the 42.95 - 43.39 will cap off this rally and auger a retreat back to the $30's as we work our way into April. $41.35 = .618 retracement $42,95 = 200 DMA $43,39 = wyckoff A Resistance zone notice the *very heavy accumulation volume at the Jan and February lows* and the absolute collapse of volume on the rally the past several days. John

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