JAN 20 INTRADAY CRUDE UPDATE

Intraday Crude Oil Note:

Well, as we suspected the wave (b) triangle is expanding. Based on where this market is currently, our updated wave (b) triangle looks like:

-a- = 45.95;

-b- = 49.14;

-c- = 46.74, if complete;

-d- rally is now.

For this triangle formation to remain valid wave -d- cannot rally above 49.14. It could still be possible that all of the overlapping wave action since the wave -a- low of 45.95, could all be part of just wave -b-.

Thanks!!

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