My guess it will bounce off support $42.61 after Fed non-decision tonight. You can see what it did after last meeting, although that was more of a surprise. I reckon all commodities and stock markets are locked into a cycle for now of about 4 weeks boom after each Fed non-decision followed by nervy last week before next non-decision. Until they send the global economy back to Stone Age with a hike. In about Sep 2019.
Once Wti gets above 100 day MA, currently 48.77, the 20 and 50 day MAs should cross above it and an uptrend that is already forming will be looking caked in. If it stays around here or goes through support, maybe on a hike, then 20 day will quickly cross under 50 day and that will be that, DT.
DLS Price at posting:
78.5¢ Sentiment: Buy Disclosure: Held
