Oil has taken one of the worst beatings in a while, definitely signs of a reversal forming here and therefor I am long via calls, looking for a move towards the yellow box as there is strong resistance there. Break above there would lead to a good couple weeks of uptrend, for now just an oversold bounce plus good news at the moment. A move below the top of the yellow box on the bottom would be a failed breakout and would be my stop area. Good luck happy Holidays.