My take on Crude: I don't believe crude will run until sometime in Jan. In my opinion, crude is still not oversold enough to make a big run. It still has a lot of room to the downside on the daily and quite a bit of downside room on the weekly.
The monthly is in what I consider extreme oversold territory for 4 straight months now. Assuming, crude closes near this level or lower.
Chartwise, that would be the best scenario: Close here (44-ish) or lower. Then start the corrective move up.
When I feel crude is ready to make it's move, I'll be buying the DXO etf (a low priced one. I love these!).
fwiw,
df
