"The recent action is ambiguous and that is typical of consolidations.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
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And while the count may remain somewhat open to interpretation ; whether it's 2 up, or c to complete 4, it looks very vulnerable to a resumption of the move down at any time.And so the count will be clarified as July DOES make new lows , no doubt as it tests the the spot month 64.24 low, and the way it behaves at that point will reveal its character: 5th wave or 3rd wave.
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