Five month ago I posted a month chart on oil with elliott wave analysis. And we detected the bottom was coming at that time. Now oil is coming to an important level. If it breaks up, it will confirm the uptrend going further. The previous breaks down which was made last year will be a false break. For a short time, it might retrace back. But for a long term it will break up. Pay attention to when it will break up, open the long position and hold them for a long term.