Crude

The 75.57 L obviously finished something.

At this point, I will assume it was a sub-minuette c wave. What it completed is likely either a minuette (c) or (y) wave, and possibly a minute [ii] with it.

The labels on the chart assume that we are impulsing off the low. This is by no means a certainty. In fact, I much prefer the abc-x-abc view so far.

Regardless, it does appear that we should see higher price once this little corrective plays out.

Notice that price ran up to the daily 20 sma, where it found resistance and closed just under it.

Also notice, we basically came down to the lower channel and supported.

I'm not sure this market is ready to go, but it's building up a lot of energy in this obvious bull flag.