Looks like a short term bounce may happen after oil hits the $43 range and can jump back up to the $45-$46 window....just follow wedge pattern being formed in the MACD and it should give you an idea for your exit or entry depending on how you are trading (short, buy, etc.).
Kommentera:
Quick update....as the MACD did not set itself up for the wedge pattern due to the price dropping more, the bounce back is now set at $41 going of off Fibonacci Extension and Nov 2016 low.