I expect the 4th and 5th waves to complete as shown on chart (magenta colored count). After this, there will be a retracement, which very well could go back to the lower trend line. The Oil lines up with this scenario as well. I cannot tell though how much lower the price will go. The possibility that I favor is that there will be a half way retrace to 1.27 level and then the strong wave 3 up may start even breaking the current long bear trend line (as on chart). Good luck.