What is also interesting is we have some shown as well, in the form of what could be a type 2 (with equal lows) or an pattern at around $22.
Adding fuel to the fire is also the fact we have on the and a clear 5 wave count from the July 2014 high with levels around these key levels
All of this has me looking to buy Oil rather than sell it, and if the $25 level holds I will be scouring the lower time frames for reasons to go long, if broken the next significant is around $22
Overall my bias is and at these levels there is a good chance of a quick and sharp short covering rally in 3 waves to complete an 8 wave structure up to around $60-70 offering a very large upside potential with minimal risk
Looking to BUY