Crude oil is currently recovering, ideally unfolding final leg within a corrective wave iv that can look for resistance and a reversal lower near the Fibonacci ratio of 50.0 or 61.8. Also at the same area, we see the upper channel line which can react as a resistance for the energy. That said, a drop below the 66.02 level will confirm more weakness, while a decisive rally above the upper channel line will confirm a low in place and more gains.
Crude oil, 1h
