WTI Update

From last Wed post;
"Just does NOT look like a big impulse wave down, or even ready to begin one for that matter. So looking for an attempt to test the highs. May fail of course."
On the road today (like a lot of the last week) but will try and update this as I go;
Some quick charts
 Active Mo Continuation Week
click to enlarge
All these continuation charts have slightly different highs and lows, but this one is what I am going to work with.
 Note the negative divergence on the weekly 14 RSI.
 Additionally the -C- = .618 of the  -A- at 91.76. Also roughly the 50% retrace on the above chart.

Note the daily 14 RSI neg divergence.
On the daily chart above the "c" wave began at 70.76 in late Aug. and moved up to 88.63 on Nov 11. before pulling back to 80.28 on the 23rd of Nov.
This latest leg up will = .618 of that 70.76 to 88.63 structure at  91.32
The 147 to 32.4 initial "A" wave down is retraced 51.5% at 91.32.
In general looking at this as an area that would likely be significant resistance for this contract and potentially the exhaustion point  of the B wave up.


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