This is now were a counter trend signal long could be taken. Gan rules on counter trends is 1 to 4 bars. So the current long signal would be a break of the previous counter trend weekly bar high at 46.35. If we don't see a weekly high in the next 3 weeks then probability of reaching the 100% level is lower.
I think this is a practical set up with price in a pendant on a 4hr chart ill post below and would still leave oil in a down ward basing channel after hitting the 100% level.