Crude

Crude followed the equity markets higher. Range was $2.13 on declining volume.

Not a whole lot changed with today's action. It appears that wave iv is still in process.

As mentioned in last update, it is unclear exactly where iii completed. I have it labeled at the 65.60 L. It is possible the 65.05 L contained it.

Regardless, It does appear that it is finished. After iv completes we should see v down.

Retracement levels are are on the chart.

This is a very nice Bullish Crab that took place today.

Even though it only managed to get to 1st target, that was still over $.60 of potential profit.

Notice the nice RSI divergence at completion of pattern.

Big nice swings in today's trade. I hope some of you were able to take advantage of them.