#WTI Update #OOTT #USOIL #Brent

I continue to expect a sharp, short-lived rally in the near term, despite the recent drops in oil prices making me feel uncertain.

The weakest point of my charts is - waves wxy of (b) and [w][x][y] of ii are too complex. Nevertheless, it is my best scenario for now.

If the price exceeds $83.4 or wave high I provide a couple of alternatives in my Weekly Newsletter.

I see no bearish scenarios that allow keeping the previous labelling (which I have comfort with). Therefore, I will refrain from further chart manipulation. I will consider immediate bearish scenarios only if price breaks lower and I have to stop loss my trades.