February crude looks ever so faintly impulsive, and it garnered a comment or two in the chat room, so here’s a technical look fwiw. The pale green arrow represents a prospective impulse leg — a weak one, to be sure, since the second peak it exceeded is not a true ‘external’. Nevertheless, camo traders can start looking on the 3-minute chart for a way to board, since even a punk impulse leg can sometimes generate enough thrust to get the canny trader to a profit-taking opportunity. ______ UPDATE (December 10, 2:27 a.m. EST): Bor-ing. We’ll set this one aside, since there are ten zillion other vehicles we could be trading.
