Oil: waiting for the right moment

After a successful trade long with the break from a wedge pattern at the end of last week, I'm waiting for the price to provide a convincing pattern to get in.

At the moment, the trend is up. The channel is intact and seems to be confirmed by price action. So, will look for opportunities to go long.

Cutting a long story short, the price is in consolidation and showing signs of going down before going up again. Looking in particular to the support level around 72.4. Of course, if price breaks the channel downwards and closes below it, we have to change our view and go short. If the price closes above resistance around 74, it's technically a signal long. Time to wait.