Crude Bullish Cup?

Shown in here is the 5-hour chart from the Crude (WTI) which is forming a bullish cup with a handle pattern from the technical view of this observer. The handle is forming due to its double support from the 106 range level. While the cup was firmly/flatly supported at 103 range level. I guess it is time to put a long position at the current level with stop at the support, 106.