TOTAL chronic crash, weekly
The good thing about viruses, is that they cause something to happen in the TOTAL share price, at last. 8 years in the waiting! (ok, not everyone likes cynical dark humour, apologies to those older than 65yo)
So looking back to 2007 top, short of 64€, the chart has been one overlap after another and good luck to any analyst to find confidence in his analysis.
Dow theory to the rescue and it becomes possible to sort these overlaps in waves...kind of;-) So this is my 'ordering' of these waves, but it's probably wrong as many orders seemed valid while doing this analysis, it's simply the one I feel most comfortable with.
The end result is a Cycle a-b-c correction which is now unfolding its wave c. The magnitude of this last wave is tremendous!...and not over yet. Indeed, diving into daily (analysis to follow), primary wave 3 did not seem to have completed when it bounced off 21€.
Given the violence of the down move, I'd expect a truncated subwave 5 to show up at some point. Still, the next ratio area is located in between 16.50€ and 18.50€ and that's where I expect Cycle wave c to complete.
Therefore, TOTAL crash will last, lead lower and time ratios point to August 2021 or August 2023 for TOTAL Calvary to end.
So looking back to 2007 top, short of 64€, the chart has been one overlap after another and good luck to any analyst to find confidence in his analysis.
Dow theory to the rescue and it becomes possible to sort these overlaps in waves...kind of;-) So this is my 'ordering' of these waves, but it's probably wrong as many orders seemed valid while doing this analysis, it's simply the one I feel most comfortable with.
The end result is a Cycle a-b-c correction which is now unfolding its wave c. The magnitude of this last wave is tremendous!...and not over yet. Indeed, diving into daily (analysis to follow), primary wave 3 did not seem to have completed when it bounced off 21€.
Given the violence of the down move, I'd expect a truncated subwave 5 to show up at some point. Still, the next ratio area is located in between 16.50€ and 18.50€ and that's where I expect Cycle wave c to complete.
Therefore, TOTAL crash will last, lead lower and time ratios point to August 2021 or August 2023 for TOTAL Calvary to end.
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