cbud
Short

Triangle and overlaping patterns implying a wipeout in Crude

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
156 0 1
Clear impulse off the Feb lows.
Followed by 3 waves down.
And what is currently A-TriangleB-C pattern up in a rally.
Fib cluster resistance at 53.03.
The simplest resolution is a strong C wave down below 40.

Rallies in Crude and US equities for the next few weeks.
After that, not a compelling Bullish situation for Crude or the rest of the US Equities as Crude tips over and either develops into a larger triangle, or wipes out in a C wave down back to 36.
Truth is what happens in the real world; not necessarily words from a book.
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