Crude Oil completed the Bearish Cycle and has been rising in the first half of 2016, following an up-trend which is most likely to continue in 2017 as well.
In the second half of 2016 WTI has formed Complex Corrective Structures and as per the Wave Count, these structures are completed as well.
This leaves us with the remaining Bullish Wave Y which is most likely going to be an extended wave.
The Bearish Divergence appeared at the end of Minor Wave A, confirming the upcoming Corrective Wave B.
After this Correction, we are most likely to enjoy a Bullish 2017 for WTI.