I believe it can be considered to be bullish as long as price action stays above the yellow line! the Green arrow and the location of waves iii, iv, and v are just explanatory and I didn't calculate any price target. but In commodities wave 5 usually extend!
Do your own research and do not just buy or sell on my count/case, be responsible and smart with your money, after all, it is yours! as I do not take any responsibility!