US30 - Short

After the V bottom recovery, we hit resistance on the monthly timeframe. Watching the move back up, we're hitting resistance indicated by the red line, and also showing a wedge pattern with a touch of the top. The minor move up just completed a 5 wave series, so we should see this retrace to the 78.6% of the smaller fib as that should end the 5 wave structure retracement. If that happens, then we've broken out of the wedge, and can look for a retest and add another entry for short. Currently running a short with stops above the previous 4HR candle high.