This is pure price action in play. Crude Oil (WTI) rebounce this week will be fueled by high demand from the import dependent countries.

Remember the Candlestick Range Theory; simply states that price has to fullfil the OHLC rule. In this scenario, price opened on Monday, dropped, and now we're ready to see it rise again. To think in terms of power of 3, we're at the manipulation phase.

If it fails to rise, it'll become a price flip; we'll look for short opportunities right from the same level when it retests again.