Hellena | OIL (4H): SHORT toward the 96.143 support area.

Last week, I expected OIL to begin correcting, but the decline toward my target did not materialize. Buyers remained in control, and bullish wave "3" extended significantly.
The main wave sequence remains intact. According to the updated count, intermediate wave "3" is developing within higher-degree bullish wave "C". The chart now shows a high at 104.682, close to the 104.526 resistance area.
Wave "3" may already be complete, with the first stages of corrective wave "4" underway. However, another test of resistance and a marginal new high remain possible before a more substantial decline develops.
I continue to focus on a correction and see this week as a likely window for it to unfold. However, confirmation must come from price action rather than a calendar deadline.
My revised bearish target is the 96.143 support area, approximately 96. This is where I expect intermediate wave "4" could complete. The previous 89.359 target no longer applies to this trade idea.
Once the correction ends, another advance in wave "5" remains possible. My focus is therefore on a local decline within an ongoing bullish structure.
The fundamental backdrop still supports oil: fresh attacks on Saudi energy infrastructure and risks to maritime supplies have intensified concerns about shortages. These factors could extend the rally, so I will consider short positions only after a reliable bearish reversal signal.
For now, 104.682 is a reference high to monitor, rather than a firm invalidation level. If wave "3" extends further, the timing and potential depth of the correction will need to be reassessed.
Manage your capital properly and wisely! Enter trades only based on reliable patterns!