The price of the black gold has, as expected, recovered to test higher levels, but it has run all the way to test the bear's commitments close to the $40 level.
From here, the resistance needs to hold or its going to be a choppy sideways market, probably for some time considering the number of uncertainties from a fundamental basis.
Meanwhile, the price of oil has been in analysis for quite some time, with examples of swing trades and days trades as follows:


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