Crude

Crude closed flat today on slightly better than average volume. Range was $2.24.

Crude needs to move on out of this congestion. I'm not thrilled with the amount of time it has taken to trace this wave (iv). Perhaps it has finally finished (iv), although it is to early to determine that.

I do not want price action to break the base channel (right above z). That means it needs to go now. If this isn't the start of (v), I'm going to be concerned with the count.

It is also possible that (iv) finished where I have sub-minuette y. That would mean that there was an expanded flat for ii, which would end where z is. I know, looks like crap, that's why it's an alternate.

We will just have to see what price action brings tomorrow.