Crude

The crude pits had hard impulsive upside price action for the majority of the day. Range was a robust $4.35 on impressive volume.

If my interpretation of structure is correct, we finished a minuette degree wave (iv) at the 77.64 L. This puts us in (v) of minute [i].

Price has reached the top of the channel, which would suggest that (v) is nearing completion. There is always the chance for "throw-over", as Elliott called it, where price breaks above the upper boundary.

Momentum is certainly slowing down, as evidenced by RSI. It appears that we should have our customary negative divergence on completion of this wave (v).

Once [i] completes, we should witness a more meaningful retracement.

I believe we have a Bradley Model turn date tomorrow.

The poor pitiful dollar made new yearly lows today. It is fast approaching the 73.792 L made last summer.