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Oil might have finished the first stage of correction

Short
Light Crude Oil Futures (NYMEX:CL1!)  
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NYMEX:CL1!   Light Crude Oil Futures
Crude Oil Futures WTI (CL1!) Elliott Wave Parallel Channel
14
4
cl1! elliottwaves parallelchannel
A clearly five waves up was shown in oil daily chart. Oi has retraced 61.8% of the last down trend.

It seems that Oil has finished the first stage of correction. It might go back to 36.3.

Good luck for everyone!

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