(Click on the picture to enlarge)Eventhough I'm still not totally sure whats going on in oil, my count seems to work out nicely.
Wave b or ii had a target near 73.45 and it ended at 73.41 and we are currently seeing wave c or iii which should move down to at least 69.20 but more likely 68.90 before finding support. If 68.90 protects the downside for a new rally above 73.41, then we know that this was a c-wave down and a higher high than 75 will be seen, but if 68.90 gives away and we break below the support line at 68.00 and better yet 65.29, then we know for sure, that a firm top is in place at 75 and we will see a fall much lower in wave C.
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