 Welcome traders to another intraday wave analysis session with me Patrick Munley looking crude oil here on the four hour time frame On the daily time frame the the high time frame. It looks like we have a way three high in place We've had an initial decline there subdividing nice into five waves a little bit of choppy price action here But ultimately looking for a corrected pattern and ABC pattern to develop and test into this 63 to 64 area Expect another leg lower there to test down into the daily trend line From the March lows and a wave for a quality objective somewhere down between fifty one and fifty two dollars What's the bullish reversal patterns there to set long positions once we have that way for in place? We can then trade up through $70 level looking ultimately to test the top side of the trend channel up at $74 for a way five high As always traders plan the trade trade the plan and most importantly manage your risk until next time. Thanks very much