crude oil hypothesis

crude oil might test 54.80 ,55 zone (prev high) ..from that point it forms a cup and also a ascending wedge ,so fall from 55 zone to feb retracement levels forming the handle. and it meets the support line of the uptrend channel ....from there it might resume a new uptrend forming new highs if it breaks the 55 zone resistance line ,we might see a fresh multi year highs ....idea is purely based on technical analysis and chart patterns