This week we review CTX for our report…

I will be away in London and Europe for 2 months, August to September 2018. Whilst I am away I will be monitoring my emails. Please forward any questions you may have to I will answer these but they may be a day or so late in reply.

Note on the daily chart of Caltex we see a major low point May 30. From this pivot low ( a pivot low is the lowest point for 30 days ) we see a rally up to a new top July 5. From this rally a decline starts, driving prices to the next low at $30.45.

This low is significant because it sits nicely on a Fibonacci level at 61.8% of the distance between the prior high and the low. Note also that it is now sitting close to a 144 count from the last major top, a Fibonacci number (at 146) because of the weekend where 144 lands on a Saturday.

There are other advanced Gann signals at this point which indicate a reversal is due which will be discussed in our advanced Trading DNA report, but the Fibonacci levels are a great clue…

CTX Daily chart

You can right click on the chart and download this for your records…

Best wishes to all,
Alan Oliver.

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