This week, 8.8% decline of Oil indicates the fourth-wave of its triangle wave (iv) is falling now (wave d, which is prior its same degree wave e up).

The decline of wave d would achieve the Fibo 0.618 expansion level at 28.11. (wave d = 0.618 wave b, a common relationship between the same direction subwaves of a triangle.)

Note : The ultimate target for final decline of Minute wave ((v)) will be able to assess after pointing the triangle’s extreme.