Crude oil went into strong bullish mode in September, which looks like an impulsive price move on the 4h chart. The reason is an extended and sharp leg from 44.14 to 51.50 that looks like wave 3 of an impulsive structure. If that's true then we know that the market is in a new bullish phase so an uptrend should continue after a wave 4 pullback. Fourth waves are corrective waves that will normally retrace for 38.2% compared to wave 3, which in this case comes in around 49.00 area, so we think this region can be hit before the price turns up for wave 5. The invalidation level is at 46.50; as long this swing high of wave 1 is not reached we are bullish.

Crude OIL, 4H