The Day Ahead: AM Edition 2022-05-12

Another wild day with plenty of points for bull and bear

Bonds

ZB is putting pressure on target for wave (A) of [IV] at 141^00 this morning. There is a chance to extend while above 140^05 but beware as it looks late in the game.

Late in (A) of [IV]

Crude Oil

CL came back to test support at 103.10 and pushed up this morning to make a minor poke past 106.45. I think the form for a possible wave [II] exists at this …