On the daily chart of crude oil, we labeled retracement down from blue wave 5 highs as a corrective move; a double zig-zag that seems completed as of recent skyrocket upward impulsive action. That said more upside seems to be now in store, with price currently trading in blue wave 1 of C) or III) with more gains still to follow, but only after any minor temporary correction that may still show up as blue wave 2-circled.
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Crude OIL, Daily