Will we get one more low today to complete this pattern? No.

I think still think we need slightly higher to finish a micro wave 4 in an ending diagonal that should reconcile down in the $78-$80 region.

Since this micro pattern seems unfinished. I think today we consolidate with a slight upward bias. I’m looking for $90 at least. If we cannot make it to $90 it really portends weakness. But I do not want to get ahead of myself. Ending Diagonals can be tricky, but they simply comprise of 5 waves, all overlapping, and each wave being an ABC pattern. I’ve outlined that in black arrows on the above chart so you can follow along.

Let’s see if today brings us clues that micro wave 4 is completing so we can go down and finish this thing later on in the week.

Best to All,

Chris