Although we had a strong up move in oil last week we remain well within last years range. we still a need above $76.50 area to pose a threat on higher prices towards $85/90, otherwise we sink back into the range of the last 14 months, similarly a close below $63.75 will see the deeper move lower.
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i am updating all my charts and the views I have had after this weeks turmoil I think its time to refresh now that we have tested the $60 area which was indicated as support that now becomes our pivot area for corrective rally back to high $60's or next bigger move lower to $50 I think correction before next assault lower. good luck 
Mark Langley
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Mark Langley
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.