From time analysis, the wave E will probably finish in the week of May 23th, 2016.
Notes: if oil breaks 40~42.5 resistance region and does not retrace back in the next two weeks, this analysis will be invalid.
Good luck for everyone!
My point is oil will finish the bearish cycle soon, if you trade oil in long term it might be a good opportunity to build the long position in the following E wave. It will have a huge up after the E wave.