WTI Update

While the longer term question of whether a top is in remains open, the shorter term picture presents a clearer picture.
15 min.
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 There is a cluster of minor resistance around the 98.10 level, particularly if the mornings move up is viewed as corrective.
And a case can be made that even if higher highs eventually materialize, a presumably corrective move down is at best only partially complete. 
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As the above count illustrates, another leg down equal to the 1st targets 92.27. That is also the area of the -3- of 3 of the preceding count up, an attractor given the speed of the move.
The big picture; the important .618 retrace of the entire move down achieved at 103.44 remains unchallenged. The longer that continues the more entrenched it will become.


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