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  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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« Dollar Weakness Boosts Commodity Prices | Main | OIl Price Conosolidates »

January 07, 2020

Are We Completing Wave One for Energy Trust?

Tuesday Jan 7, 2020

Permian Basin Royalty PBT

Screen Shot 2020-01-07 at 12.00.12 PM

 

It appears we have completed Wave One up for PBT.This makes sense as the fifthe wave was caused by taking out the Iran General. A  50% re tracement is 3.85 which is also the 200 bar EMA, and the previous 4th wave low. Note we have alternation  with a quick sharp wave 2 but a slower long sideways Wave 4.So this looks pretty textbook.

Now we should expect an A B C correction,  A Down which is underway now, B up and then a final C ending around  3.85.

 

And over all the move up from Dec to early Jan should be a Wave One on the daily scale.

 

Posted at 01:06 PM |

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