The recent action is ambiguous and that is typical of consolidations. The following chart is the most likely and most conventional interpretation.
click to enlarge
The implication is that the c wave is yet to come, presumably taking WTI somewhat higher, though perhaps from lower number's ie 69.16/ 68.62. See  
WTI Update

However if the SP wave count in the preceding post is correct, it would be be very unusual to see WTI stage a rally while equities are in free fall.
SO another interpretation follows;
click to enlarge
Personally I'm going with the SP count. 
BTW it IS a Friday and the Euro is grinding down through long term support at 1.2138, see 
 Euro Heads Up  from May 19th or any of the Euro posts.


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