Oil Daily Update

With confusing price action in stocks and everyone shorting crude, I start giving more attention to alternative scenarios. This one in red is compatible with previous SP500 chart where the price will stay at these level letting precious metals to surge while chopping crude oil and stock market shorts. At this point, I do not see an immediate bullish alternative, although someone yesterday argued that the triangle could break to the upper side. Always possible but I prefer to stick to my previous count which says wave 1 is over.

I start leaning towards the red triangle scenario because wave i never gave me full confidence.