We've seen a very simular structure in SPX last month, now we seem to have a triangle in Crude, followed by some thrust. This is the last triangle of the last subwave, so what will follow is the last sub-wave 5 of the sequence, followed by a reversal.
I believe that the whole impulsive advance off the January lows has been counter-trend (wave C of a larger structure), so this needs to be fully retraced. I expect therefore the 48->20 movement next.
I believe that the whole impulsive advance off the January lows has been counter-trend (wave C of a larger structure), so this needs to be fully retraced. I expect therefore the 48->20 movement next.