Crude Oil Futures Morning Prep:

We can see
the bear price-channel, the bearish price-wedge, and double-top providing support
at 82.72.

If we look
closer we can see this is considered an INSIDE DAY which means we are within
the range from yesterday.

We can see 2
distinct sideways-trading-ranges with different highs (86.77 and 88.80) and the
same low at 84.05.  The highs are resistance
and we will sell-the-high at resistance. 
The lows are support and we will buy-the-lows at support.

Our day
trading strategy for Crude Oil will consider three different directions. 

If price
moves sideways we need to sit-on-hands in the middle of this trading range
around 85.10.  We can look for selling
opportunities considering the move off the PHOD has occurred, however, it will
be much riskier trading in the middle.

If price
moves higher we will sell the highs of the price-wedge and look for a chance to
sell the fake-out-breakout above the PHOD. 
If price can test the 86.54 and/or the 86.77 we will also look for
selling opportunities, and if we breakout above this resistance we will then
considering buying pullbacks using a wave-pattern-long up to the highs of the
bear price-channel.

If price
moves lower we will sell short with retracements using our wave-pattern-short.  Our target for the sellers is the PLOD and
the lows of the price-wedge.  If we test
the lows, we will take profit-target and then look for the price-reversal to
bounce off the support at the lows of the price-wedge and the PLOD.  We will be looking to buy at the lows, all
the way down as far as 84.05 and if we get below the 84.05 we will then
considering selling short using a wave-pattern-short.  Our final profit-target for the sellers on Crude
Oil is the double-top support level at 82.72 and then down to the 80.61 if we
can really get the sellers in control.