Crude

Crude finished higher, however, she couldn't close above Friday's high. Range was only $1.24 (about 25 ES handles) on fairly light volume.

I believe that crude is tracing out an expanded flat here for its minuette (b) wave. If this assessment is correct, price should go back to the low of sub-minuette a.

If you look at the daily, we are bumping up against the upper channel line of this entire minor B structure.

We also had monster RSI divergence.

If price takes out the 74.81 H, then something else is more than likely going on.

Since this is a c leg, we should see a 5 wave impulse down. I'm not sure we can say that so far.