We are in the midst of the bottom of an oil cycle. If oil never collapsed EOX would still be trading around $8.00. Short term pain turns into long-term gain in the oil patch. Last month before cycle turns.
While I agree with your process as myself apply the same to my trading. However, you try to figure out bottoms with oil news and world problems as with Yemen.
We are going into the travel months and with it comes the changing of fuels. I expect oil will increase in price to 70 dollar, my predictions. GLTY
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