WTIC West Texas Crude Oil Daily Chart

Price stages a strong recovery on Friday to 29.02. The positive divergence on the indicators creates the launch in price. The middle band at 30.45 is in play also the upper band at 34.16. The pink dots show price extended to the downside so a mean reversion higher may be in progress. Oil remains very news-driven but barring any headlines, price should continue higher in the days, and week or two, ahead. There are a lot of shorts so a rally may become dramatic. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.