Wednesday, January 29, 2014

orange juice update...... C leg down to start?

Here is a quick glance at the OJ daily chart for( May). Looks like Juice  might press to the downside into a c leg to the 127.33-132 range. wave A will equal wave C at 133.45 if we unfold as a simple zig zag. It also happens to coincide with the .618 retrace and the .786 where wave 2's most often correct to. 

If however we don't break 138.10  and we  push back toward the high at 150.15 it sets up the wave 3 higher to the 180+ area.

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