Crude oil has already fulfilled its corrective target for the correction in wave 4, that doesn't mean we can see a more complex correction in wave 4, but what it means is that we should be alert for signs of completion of wave 4 and the on-set of wave 5, as fifth waves within the commodity complex often becomes runaway rallies and if this in the case for crude oil, then the 2011 peak at 147.27 will be exceeded.
Short-term we see minor resistance at 109.20 and more importantly we see resistance at 116.64 and a break above the later can indicate that wave 4 has completed and wave 5 is in motion.