Crude

Crude took one on the chin again today. Range was $3.37 with above average volume.

I have a red line marked on the chart at 67.42. This is the line in the sand. Price can not trade through this level, or my double zigzag gets blown apart.

Crude appears close to finishing up this leg down. If correct, we should see upward price action tomorrow. Lets hope it happens before we get to the (x) wave low.

If we do break the 67.42 L, then I have to assume that somehow minute [b], or whatever the hell it is, has finished.

I saw where EWI had this as a ending diagonal. I looked at this angle for hours this past weekend. I just can't agree with that assessment. In other words, they are clueless as well and are trying to make something fit.

We have very nice positive RSI divergence on this 60 minute chart.

Bottom line - I'm still looking for a completion on a minuette (c) leg to finish [b]. This means higher prices near-term. We know where were wrong at.

Lets see what happens tomorrow.