On account of technicals. It is in side ways correction, thus the price will drop and break the support ONLY once and then marked lvls will be tested.
Levels are 61% and 78% of harmonic A Leg.
However keep the SLO above the recent high.
Its a BO and a tentative target lvl is mentioned.
The strength of wave is indicative of eyeing that lvl.
So key areas are two 61% then 78%
Reversal will take place from within.
Harmonic C leg is unfolding and lets give it a chance to prove itself.
I have explain my point over the chart.
The world is already suffering from pandemic and post pandemic, so part of the cycle is Prices will restore to its PAR value now.
Which i see is around 60 per barrel.