For about 100 years it does the same thing as you can see . In 74 they loved to say that the oil prices sized from 3 to 12$ a barrel .... They don't mention that around 80 it was about 119$ an also in 86 an 2000 around 20$-30$ . Now we are around the 30 -50$ , and probable it will stay that way for about 12 years .
If price stay above this area i'll try to long this avoiding my bearish scenarios with 1x-2x tgt's
IH&S projection showing 78 as target and last low at 26.06 as critical zone to miss bullish scenario
RunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016
Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76...
Made some changes to the chart too finally show my stochastics, usually my stochastics will bottom out on the 50% line of the fib and it is a strong signal to buy
