Long term completion of a Butterfly pattern
at 58-59 is still a possibility ...A breakout above the blue line will see oil
targeting the previous high of 49 and possibly beyond...there looks to be the possibility of a right shoulder forming in an Inverted Head and shoulder pattern, a green candle on monday will confirm the right shoulder or we may have a doji
first on Monday and the green candle on Tuesday .... The head is quite obvious in this pattern so an entry around 43.50 would be ideal....if i miss the entry i will be hoping for the trendilne to act as resistance one last time and buy the pullback....