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Remember the prize on offer here in the medium term.
A rally to a new all time high above 1920!
So there is a whole lot of upside left in this price structure over the next year.
I have shown the alternate wave count in crude more prominently today.
The persistent rise into resistance has reduced the probability that we have seen the top in wave 
The momentum setup suggests exactly that,The RSI has created a triple top and now a clear lower high.
Both MACD and RSI have just registered a bearish center line cross.
Crude has again spent the day whipsawing violently.
The action is hard to decipher right now with the alternate wave count remaining a definite possibility.
I have labelled the the structure as a possible completed waves ‘i’ and ‘ii’ in pink.
Wave ‘ii’ can be viewed as an expanded flat correction.
The continued rise in crude over the last few days has prompted a cautionary alternate wave count.
I have shown the labeling circled in red,
An A,B,C rally with a contracting triangle in wave B,
Despite an impulsive decline off a lower high today.
prices recovered well this evening casting doubt on the bearish scenario.
Todays low must be broken to revive the wave count.
The price reached the upper trendline today in a possible wave (c) grey.
This action has completed a three wave form inside the parallel trend channel.