CoopsCharting
Long

Oil bottoming is a process!

NYMEX:CL1!   Light Crude Oil Futures
99 3 4
It amazes me how the talking heads flip flop on fundamental causation regarding oil             price moves over a 48 hour period...as if the whole economic landscape shifted that much that fast.

What we have here is only a bit of technical resistance at the 50 day moving average (this was expected).
i was thinking the same thing after seeing reports today LOL
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I'm not the one to call the bottom, but I totaly agree. Would have been nice to blast through MA50 though, but yeah this was expected. I'm keeping my eyes on this triangle so far:
snapshot
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A nice ascending triangle you've got there. 4th run usually breaks through.
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