Touched 0.618 fib (+200-daily moving average) and it is very much overextended in bb(20,2) perspective. Economic fundamentals are improving (tough slowly) around the world (especially in the China, look e.g. the pmi). I think that the oil has overreacted. Falling dollar (+t.bonds) is telling me truth. Crude will move to the opposite direction (i.e. upwards).
Weekly BB(20,2) touch could be possible before bouncing.
Non-commercial net position sentiment changing aggressively in dollar... Supports OIL
Tough to expect a V bottom....a wise trader once said never try to catch a falling knife. So a short term pop monday But tuesday and wednesday are toss ups...
if Hillary doesn't implode or donald doesn't killery her.