Oil is testing 72
Oil is testing the most important downside resistance/upside support 72. This is the intersection of the two long-term bullish wedges, broadening and descending wedge, and a bounce off here is required for the upside reversal and a test of 83 on the upside. A break below 72 with the confirmation can lead to 60.
Note: look for the long trades with a stop loss below 71
“If you think Investing is risky, wait till you receive a bill for not Investing!” Jim Rohn