Looking at we can see that price has decelerated around 47.50 which has acted as horizontal level couple times in the past.
Zooming in to intraday chart (1H) we can clearly see that price fails to make lower lows making triple bottom pattern on 47.00 level. After that Oil has broke 1H as well as 1H50EMA which was holding price quite nicely and create a higher high on that timeframe.
My strategy is to wait for 1H50EMA retest which coincides with for the day.
Targeting 4H50EMA as it was well respected in the past. Also weekly chart looks still for me, so I don't want to overextend my target and I'm happy with 1% profit.
So trade end up with -1% loss. On to the next one.