H1 paints the portrait of a redistribution currently in SOW stage, Markdown phase. It should be the Break the ice are (potential down to 61,8x) and hence a slight retrace would be due - I would expect 64,5x , followed by what Wyckoff calls the Effect - the Price Mark Down, phase E, potentially taking oil $55. Yes, its not a typo. Iran news seem to be priced in, as the Saudi revelations.