Oil has been in a downtrend for the last 2 years and it looks like it has bottomed out. I see a reversal in form of a Head&Shoulders pattern.
In expect the price to break the neckline in upcoming weeks. Will be looking for longs after the break and the test of the broken neckline.
The target price is at about 70$
Setup will be invalidated in the case price breaks the support trendline .