After that, Oil will forward the presidential rally in the stock markets and also the DXY movement as the FED probably will not touch the interest rates before the new US administration arrives.
To the Cent!
But: it failed to print a reversal candle on 4H Timeframe: we are still in higher high-lower high environment. Therefore, I recommend to hold the longs for now. I have a sell stop order engaged at 46.18 and moved it to breakeven now.
If a bullish momentum continues today, the target is around 47 ish, I have another sell stop set at 46.88. If oil breaks and secured the red zone, we will have to looks for longs