Im not a professional Trader so please comment or behave in being saying "oh this is bs" and stuff like that.
My thoughts by that is that OIL has found its bottom and it wouldnt make much sense to fall much lower.
I know in the stock market there is no "it makes sense or not" but really, it is so low and tested the mid 40s a few times and wont go under that (my opinion).
So i set up a nice gartly pattern and if i expand the underlined uptrend it turns out pretty logical.
the 54,10 area is a little unknown, if it can jump over it or bounces back but it would be the third time in this up and so i think it could probably break trough it.
Mid 58 would be the next area where it could get tricky.
Please excuse my english, Im german
Let me know what you think.