That bullish count looks like a feasible scenario.
Under that count Crude made an important high at 74.65 on July the 6th.
We can count that -A-B-C- move up as wave -1- up.
The first a-b-c move down into the green demand zone bottomed at 59.93 on Aug 23rd.
We can count that decline as subwave -A- down of wave -2- down.
The rally that followed can be counted as subwave -B- up that managed to make a higher high.
That could be either a Running Flat or Expanding Flat corrective structure.
Under that structure, the second leg down in subwave -C- of wave -2- down has to subdivide into five micro waves.
The question is whether we can count that decline as having completed.
However, if we zoom in to 90 min chart.
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