Crude

Crude exploded higher by 4% today. Another monster range day at $4.53 (over 90 ES handles). Volume was equally impressive.

Well folks, I think they are throwing a double zigzag on us. This means minute [b] is still in progress.

It appears that we have finished, or nearly, minuette (a). We should see a retrace, and then another 5 wave structure to complete [b]. If I'm correct in my assessment.

I had mentioned last night that maybe (c), and thus [c], might have completed. I just can't believe that, although, I suppose it's possible. The degree's just wouldn't make sense.

We have a nice 5 wave structure off the 67.42 L. All the subwaves are clean with no overlap - that is an impulse.

I show sub-minuette v completing at the 74.31 H, however, it's possible it has a little bit of work left.

The retracements are on the chart. This assumes that the 74.31 holds as the high.

I do have an alternate at the bottom. There are a couple of other options as well. No need to delve into those unless we have to. I'm comfortable with my preferred, at least until tomorrow :)


No question, this is by far, the best trading market out there. Huge volatility, ample liquidity, and trades technically sound for the most part. What more could you ask for? Yup - this has become VO's market.