Crude

Crude finished higher on the session on above average volume. Range came in at "a no big deal" $1.91.

As expected, price moved up out of the corrective. We ran into the down trending channel and were quickly repelled, which is very common.

I have changed the labeling and placed sub-minuette i at today's high of 71.97.

It is also possible that i actually ended at the 71.63 H. It is unclear, as the leg off of the 70.06 is a mess.

I have placed two separate ii waves on the chart. I prefer the second lower ii myself. This means that ii needs additional work. Although 2nd waves can certainly only retrace a 38.2%, it's not very common.

There is a very remote possibility that 71.97 completed minuette (c), and thus minute [d]. As triangles start contracting, the waves get smaller and can fool you. It's possible, just not likely imo.

Bottom line - I continue to see price moving higher. If I have structure correctly assessed, then we should see nice upside price action tomorrow, as we would be in a wave iii.

Any trade below 68.05 would mean something else is going on.