Current consolidation is a classic flat within double three WXY (white labels).
Which is in its turn is the wave ((X)) of the larger yellow degree - the junction between ((W)) and ((Y)).
After it gets completed another drop would follow to hit the blue box between 32.90 (38.2% Fib) and 29.70 (50% Fib).
The wave 4 that I was looking to unfold before could be over long ago as simple flat.
The further seesaw structure that already distracted so many traders from the crude could be an ending diagonal wave 5 of (5) of ((C)).
After it gets finished we could see a drop in 3 waves retracement.