So oil has pushed past the last lowest of 43.75 in Jan 29 to today's 42.57.
This is significant in technical analysis because psychologically the bottom has broken and its anyone's guess what the next new low will be,
the next bottom is 33.77 on 2009-2-06, which is a long way from 43.75
But another key thing to ...
UWTI tracks reasonably tightly with oil with the exception that there is greater selloffs during oil shorting.
This being an etf, which started in 2012, the current low price may be a bad indication that the etf is almost OUT OF MONEY.
Which could also mean that it has LITTLE OR NO LIQUIDITY.
better check UWTI ...