Crude

Explosive upside day in the crude pits. Range was $2.95 on above average volume.

It appears that minuette (b) is now finished. If correct, we should see 5 sub-minuette waves up to complete (c).

The attached chart is a 5 minute look at the up move today. This is one way of interpreting structure.

I show sub-minuette i completing at the 71 H. It almost feels like this is a wave [4] instead of ii. Tomorrow should give us additional clarity.

Regardless, I believe the ultimate destination is higher.

Here is the daily view of the triangle unfolding.

Notice that (c) = (a) at 74.37. This is very close to the trend line, which is a convenient place for this leg to end.

I'm expecting this little corrective to finish up in short order. We should see continued upside price action once complete.