Yes I read this post earlier when you posted it. It definitely shows a lot of promise for this recovery. Although that massive drop was during a major economic recession, and this time around its due to over supply issues along with a major climb of the Usd. Just because we had a speedy recovery last time around in spring/summer doesn't mean we will this time, although it definitely helps.
I have learned a lot from you, rb, Ryan, as well as other chartist here. I'm new to this but have been putting in a lot of time learning, but only a little bit actually trading, until I'm more comfortable with it. From a TA point of view, does the fact that we broke the trend line and closed below it, as well as the long legged doji poking above the upper bollinger band on the weekly, not point towards a potential reversal? I'm not saying to the 30s or even 40s, who knows where it will go. Maybe we meed a pull back to the low 50s before establishing a new uptrend line. But can you totally disregard the points im making as irrelevant? I would hate to see a lot of longs here lose major gains because they are set on oil doing the exact same thing it did 5-6 years ago
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