This conic can be represented as
p^TMp = 1
with p=(x,y)^T and M = ((1,1/2),(1/2,1))
Making a change of coordinates such that q = (x_theta,y_theta)
q=R_(theta) p with R_(theta)=((costheta,-sintheta),(sintheta,costheta)) we have
p = R_(theta)^Tq and
p^TMp=q^TR_(theta)MR_(theta)^Tq = q^TM_(theta)q=1
with M_(theta) = ((1-sinthetacostheta,1/2cos2theta),(1/2cos2theta,1-sinthetacostheta))
Choosing theta such that cos2theta=0 or 2theta=pi/2 or
theta=pi/4 we have
M_(pi/4)=((1/2,0),(0,3/2)) and in this new reference frame the conic looks as
(x_(pi/4),y_(pi/4))M_(pi/4)((x_(pi/4)),(y_(pi/4))) = 1/2(x_(pi/4))^2+3/2(y_(pi/4))^2=1
which is an ellipse.