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Will Crude Oil make one more dip before breaking out toward $60?

שורט
FOREXCOM:USOIL   CFDs on Crude Oil (WTI)
Crude has been ranging between $38 and $56. Probably embarking on a triangle pattern. If this wave analysis is correct, we could see price dipping toward $45, completing the last leg of the triangle pattern, before making a giant rally to $60 or more. To trade this pattern, one will have to wait for this dip to happen and complete before looking for a bullish opportunity.

On the other hand, if price rallies above $56 resistance without the last triangle e-leg , one may suggest the rally has finally resumed. We could then re-analyze and look for an opportunity to join the bullish trend based on a new proper wave structure/pattern formed.

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