Crude

Crude had a beautiful day going for awhile - before giving most of it up. Range was $2.16 and volume finished slightly less than yesterday.

This is a 4 hour chart. I needed to show a bigger chart to be able to get this whole mess of a (iv) on it.

If we use the 68.71 L as the end of minuette (iv), then we can actually get 5 waves up. This is not without issues folks. As talked about in last nights update, we do have minor overlap.

I have today's high of 72.21 labeled as sub-minuette i. This high could however, finish off minute [c]. I don't think so - but it is possible.

I will assume that ii has completed, this makes iii = i at 73.54. The 61.8% projection of i - iii is at 74.59.

Notice that RSI is sporting a nice positive divergence from the 72.84 H. This is another reason that I feel there is additional upside left in the structure.