With $WTI showing a probable range of 53.12 - 55.11 for today, it has been steadily creeping near potential resistance.

I have found it useful to utilize lines based on certain angles. As a "base" angle, 3.125, multiples of 3.125, or variations such as 1.5625 have proven useful. These angled lines can be drawn as support or resistance from signficant pivot highs or lows.

In addition the whole chart is framed within a Gann Square. This is based on W.D. Gann's work with significant angles such as the 45 degree angle which allows time and price to be squared. The squaring of time and price aids in forecasting how long, in whatever unit of time is utilized, before price must reverse.

The darker red line on the left-hand side of the chart is a 1x1 aka 45 degree angle line. You may notice that price reversed several times near this line which makes the line quite useful. The 45 degree angle essentially represents a movement of one unit of price per one unit of time.

$WTI is trading within a large triangle and, at some point, should be expected to break either up or down out of it.

Sometime in 2018 price will come into contact with the circle (located outside of the label 2) and should reverse direction from whatever direction it is traveling at the time.