Hello friends, on the daily chart oil has a strog ascending movement, finding it lately in an ascending triangle, until now it respects very well the Elliot triangle waves. This year, price got close to 100EMA for 2 times and it didn't even touched it and bounced back up. We can clearly see that we are in a channel, the light blue trend line which was once a support line became resistance. For me it's a LONG position. Let's see if bounces back from the triangle resistance line, if it breakes it we should see a retest for keepeing the long position and going further up.