By Ramki Ramakrishnan Most traders in the commodity and energy markets watch technical levels very closely. Some say that prices follow technicals because traders watch the technical levels. Others (especially those who practice Elliott Wave Analysis) would say that when the herd mentality rules the market, certain types of movements can be anticipated, not because traders watch those levels, but because the underlying emotions of greed and fear tend to exert their influence on the markets. Take the case of Gasoline. A five wave rally has been completed at $348, and hence we…
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