The Day Ahead: PM Edition 2021-11-18

Crude springs to life where it had to keep the bullish forecast alive

Bonds

ZB bounced as expected today in the initial move of a wave [II] bounce. Resist at 161^08 is being felt and should hold it back for a few days. An alternate could be this bounce is just a lower degree fourth that will result in a new swing low in wave [I].

Bouncing in (A) of [II] or (IV) of [I]

Crude Oil

Crude bulls came in when they had to keeping th…