Crude oil looks to have made a three-wave recovery within higher degree wave B as part of a three-wave pullback from July highs. Currently we see price making an intra-day drop from the 74.78 level which can suggest a completed wave B and final wave C to be in play towards the 72.54 level as a zigzag pattern. However, we also need to recognize a possibility of a triangle correction, if prices stays sideways and breaks above the 75.00 level later.
