We are expecting wave v to over-shoot to the downside of the and below the arrow represented on the chart which will lead to triggering stop losses "below wave 3" and to increase the sentiment to a new extreme.
At that point of time Oil should rebound and advance to the upside in at least 3 waves A-B-C towards the 70s~80s area or start an impulsive 5 waves (1-2-3-4-5) to the upside that could take us to new highs in the next years/decade. We cannot tell now but once the prices start to advance we will have more information to call it right.
How can we make money from this analysis? Simple; we have three options:
1-By trading spot or (only if you are an active trader).
2-Invest some money in Oil companies now for few years.
3-Buy long term Oil future contracts (with 2017 or 2018 expiry dates).
Happy trading :)