We have just crossed a major support line on the 40 USD level that defined the end of the 2008 crisis and the beginning of a new bull market period. This could be well the beginning of a new era where oil will have the 40 USD line as major resistance and we'll be back to a pre-2004 situation.
Another possibility is that we are actually re testing that support again, so it is an amazing time to long. I wouldn't bet on that until we cross above the 40 line and/or MACD crosses back the signal.
Another possibility is that we are actually re testing that support again, so it is an amazing time to long. I wouldn't bet on that until we cross above the 40 line and/or MACD crosses back the signal.
