Crude oil is trading higher, after breaking above 35.94 last week which suggests that wave four can be making a flat correction. That's a 3-3-5 pattern, so leg up from 28.69 should then unfold as a five wave movement. At the moment we should continue to look higher within wave C then, as current price is still only in blue wave three of a five wave recovery. In ideal scenario energy will find a top later this month near 39-40 area. For now however sentiment is on the bullish side so be aware of even higher prices after short-term retracements down into fourth wave. Crude OIL, 4H
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