Crude oil came sharply down last week which now looks like a deep completed fourth wave pullback, after a nice turn up from 55 support area. Notice that oil made an overlap with 56.60 which is important for a bullish case as it invalidated any bearish interpretations. As such, we think market is back on the rise, headed above 58 and possibly 59 region this week for wave 5 of 3).
Crude oil, 4H
