This Memorex commercial applies to figuring out if something is a true impulse or not. Sure, it starts out great at this time, but it does not confirm crude oil. This is understandable as this gasoline is a product of refining and has many limitations as to how much inventory is kept lying around at any given time. RBOB gasoline never dropped below 2008 lows so this means I could be working a "C" wave bull market in gasoline.
With a potential 5th wave ending we should head into a correction, which could send gasoline back down to the 1.32 range. Anymore and the impulse wave gets trashed and an alternate must be found.Even if we just
On the weekly chart this