see the chart to understand
this is a possibility for sure. if what you suggest come to happen, then will be a longer correction, with possible bottom for wti on 26$, but i'm hoping for this actionary wave C to break this 34-35 resistance. Wedge is pretty open yet, i think it will squeeze for a longer time, what would require at least one more motive wave.
yes, its a strong resistance indeed. I was counting with a very similar resistance on SPX500 (about 1946), that broke yesterday, and now i'm worried about it become a support. i will get burn today, probably, if it don't change abruptly direction. So this strong resistence it's a two way signal.