Crude Oil Falling Sharply After A Completed Complex Correction

Crude Oil dropped sharply at the end of the May with five waves into wave A), which in EW theory suggests a bearish reversal. Later, at the beginning of June, we can see slow corrective movement within a channel range, which usually means that it's just a temporary pause before a continuation lower. 
We are always looking for a minimum three waves, A-B-C or 1-2-3, so in this case wave C or 3 down is still missing, which should be made with five waves just like wave A).

So, as we can see on the chart, Crude Oil was trading in a complex W-X-Y correction into wave B) in the past days, which seems to be finally completed after that sharp drop. MACD indicator is already showing a divergence so, there's a good chance that Crude Oil can be headed much much lower, but we always wait for confirmations, which in this case would be only if we get five subwaves down, a break below channel support line and 64.75 level. And if we get these confirmations, then we have all the evidence of a bearish reversal.

CRUDE OIL, 1H