Crude spiked lower on Friday, but then stabilized on volume late in US session when price moved slightly higher. Energy also stays up after the news that N.Korea fired an unspecified ballistic missile toward East Sea. From an Elliott wave perspective, price is also eyeing higher, we are seeing room for wave C/3 to around $75. In that area we see some consolidation back from start of December and the 61.8% Fib of the previous decline that can be finished because of five waves down, and break out of a downward channel.
