Crude

Crude had a huge range today of over $3 finishing up $1.76. That is ES equivalent of over 60 handles!

Upside was certainly expected, as posted yesterday. It appears that it completed its (c) leg to finish off B. If correct, we should see structure start to head south.

We had a 78.6% retracement from the initial leg off the high. The 127.2% extension of this came in at 66.46. Swing low was 66.46 (and AB=CD). Once again, pay attention to reciprocals folks.

Crude looks like it has setup a H/S on my trading chart (144T). It also appears as though it wants to fail.

It measures .80 and targets down to around 65.90. The 161.8% projection from the high is conveniently close at 65.96. We will see how this plays out.





Here is a look at what the Ensign Map forecasts for tomorrow. The Map can be uncanny at times, and not at other times. I do not trade solely from what it is forecasting - nor should you.