Oil still in long term descending channel since March 2026

4H Rsi has printed hidden bearish div followed by classic bearish div as result oil reversed from 93.5 at about 0.5 retracement and POC. Indicating high chance of breaking below 67.

First A leg down reached 0.7 retracement aligned with green trendline from 67 and formed failing wedge that we expect to break upward to form wave B at about 0.7 retracement to reach 88-89 VWAP+VAL before resuming down to 63-61 filling in all gaps left behind from past 2 weekends.
Invalidation/SL: 74

Not a financial advise.
Good luck.