Here we have oil on the 15m timeframe, if you take this to the daily timeframe you can see that we have quite a significant uptrend. so we are waiting for minor exhaustion to catch some pips on the re injection of buy pressure. you can see here that we have now had that exhaustion to a level of buy pressure and the uptrend so now all we are waiting for is double confirmation to place a trade to the upside. this trade is based on multiple timeframe analysis and also news.