Bull Flag Breakout set up on the weekly, and can be seen on the monthly chart as well.. However, i'm presenting a monthly chart view. From D leg, anticipate oil getting very bullish w/ a possible low as $80 (dip) w/ a movement to A leg of $130.00 previous high. Based on projections, Oil could reject this level 3x before completing the rounding Top and A sell off of C Leg.. The Breakout is shorting oil below the handle. The Inverted cup/handle trade is not a bullish trade, its a bearish trade set up.. I'm bullish w/ a revisit back to All time highs, and will look to short the all time highs again on A leg, C the finally leg I see at the ATH...
Since this is a monthly chart, you got to be fluid and willing to adjust to market conditions..