My first Idea - I'm bearish on oil because 1. Elliot Waves: On the 4H, It has completed the 5 Elliot waves. It's currently in the C wave of the ABC cycle. 2. Triangles: I've also used the Descending triangle to show the current downtrend in the C correction 3. Fibonnaci retracements - link up well with the Support and Resistance lines of the retracement