On my recent posts I suggested oil will likely have a deep correction to .78 or even to 1.0 (ie a double bottom). In the last few days the closes are all near .78 and the lows at .84 retracement. Late today we had a big pop up in oil. with another bullish candle on the daily chart and a break of the downtrend line on the 120 chart. So I am now long with the stop below the previous low < 37.73. I would not be surprised to see some pull back tomorrow to give a good entry point if you are so inclined. Make you own judgement as this is just the way I see it. Take care. Have a great weekend coming up. Goodguy.
