This Elliott Wave count suggests that oil's rally may be due a rest and a period of weakness may now take place. From an EW point of view it has some alternation in it's 2nd and 4th wave corrections between deep and shallow. The 3rd wave ended exactly to the 1.61 fib extension and the 5th wave completed on the .61 fib extension of waves 1 to 3. It also completed on the top of the channel. Perfect Elliott Wave? Lots going for the count so lets see how wrong I am....