A note: There is nothing intuitive about the analysis above. The levels shown are objective symmetrical areas of supply turned into demand.
An assessment on how price could follow after, however, is less objective. Example: How far price could rise after reaching the blue level (if it does) is an entirely different argument and less clear. Price cascaded downward before reaching the original blue in December 2014. In other words, March/April 2017 seems likely to be the LAST symmetrical level that will determine whether crude rebounds significantly or makes a new return into the 30s. 42. xx may act as support, but I think only if the market flashes in the same day and rises above 45 that same day, which seems unlikely. Bottom line: 45. xx - 46. xx is extremely critical.
This chart says short oil, short swiss franks, buy gold.
USOIL VS GOLD PRICED IN SWISS FRANKS