In what can only be described as a 'blow-off-top' Crude oil
prices surged past our long standing bullish ab=cd
price pattern objective (101.62) to finish the day well above 102. As the colored arrows indicate bullish harmonic patterns
have been satisfied. Coincidentally, our very reliable Willy21 is flashing a 'stupid overbought' condition and our MACD
indicator is suggesting a bearish
momentum divergence. Put it all together and my upside enthusiasm is very limited. Yes we may move higher over the coming sessions but I for one shall be watching for some sort of consolidation first.